Could the 5:2 diet save you money?
The 5:2 diet sensation is now helping savvy Brits save money, according to new research.
Six in 10 people have adopted the 5:2 diet approach – which sees those looking to lose weight cut back on calories two days a week, while eating normally for five – when managing their finances.
Half of consumers say the 'binge-purge' approach makes goals feel more achievable.
Chris Sanderson, chief executive of consumer trends consultancy The Future Laboratory, explained: "While George Osborne is using the 5:2 approach – also known as the polarity paradox – to reduce his waistline, six in 10 Brits are now using it to boost their finances. This has led to people using the 5:2 approach to improve their financial situation by saving money for five days to fuel a two day spending spree each week.
"For some people, this means spending as little as possible for five days a week (e.g. having a homemade lunch each day and avoiding Starbucks) and then splashing out on whatever they want for two days a week. For others, it means setting aside two days a week to sort out their finances, e.g. switching to a cheaper gas supplier, looking into new Isa accounts and sorting out their pension."
Invidivual Savings Accounts were introduced on 6 April 1999 to replace personal equity plans (PEPs) and tax-exempt special savings accounts (TESSAs) with one plan that covered both stockmarket and savings products, the returns from which are tax-exempt. The ISA is not in itself an investment product. Rather, it’s a tax-free “wrapper” in which you place investments and savings up to a specified annual allowance where the returns (capital growth, dividends, interest) are tax-exempt (you don’t have to declare ISAs and their contents on your tax return). However, any dividends are taxed within the investment, and that can’t be reclaimed.