MORE than a third of Britons would happily spend money they had set aside for their retirement on improving their looks, a survey by Scottish Widows has revealed.

Around 38 per cent of people said they would be prepared to spend savings on products and services to make them look younger, while 14 per cent would spend an extra cash windfall on plastic surgery rather than saving it.

Vain men are nearly as likely as women to want to spend their savings on their appearance, with 34 per cent admitting they would dip into money they had set aside to help them look good, compared with 41 per cent of women.

At the same time 12 per cent of men said plastic surgery would be their top priority if they had any spare money, only slightly less than the 16 per cent of women who felt the same way.

People with children are more likely to want to spend money on improving their looks than childless consumers, with parents of four or more children five times more likely to spend a windfall on plastic surgery rather than saving it than those with no children.

Around 86 per cent of people said they wanted to live for as long as possible, while 48 per cent admitted they would want to live forever if this was an option.

But despite this 52 per cent admitted they would rather live for today than save for tomorrow, although 64 per cent said they were worried that they would not have enough money to support them when they stopped working.

Customer and brand marketing director at Scottish Widows Mike Hoban said: "These days we start thinking about preventing wrinkles and grey hairs when we are still very young. It's equally as important that we think about preserving our finances from an early age.

"People should plan their finances like their anti-wrinkle regime - start early so you don't have to catch up later."