Supermarkets have certainly changed the way we shop. We are inundated with offers and discounts, as well as strategic branding. Misleading labels have been blamed for the amount of food wastage in the UK. It is estimated that up to £480 of food is wasted every year, some of which is still within it sell by date. (Institute of Mechanical Engineers)
A report from Dr Tim Fox, head of energy and environment at the IME, stated; “One of the problems is the way supermarkets retail…. Consumers end up buying more produce than needed because of special offers…”
It is similarly estimated that the UK accumulates over 7 million tons of food wastage every year. This has meant consumers are are spending large amounts on supermarket bills, only to be left short at the end.
Increasing prices in food products has added to the burden on individuals. Spending more on food that is wasted seems unimaginable, but it is the case.
By spending more, individual are looking for alternative finance to assist them in times of need. One of these methods is log book loans.
Log book loans, is a method whereby a loan is secured against your car. Individuals can access cash quickly and they are 93% cheaper than payday loans. The approval of a loan is instant, with requirements only being; car ownership and there must be no finance on the car prior to taken out the agreement.