Botox makes you happy - apparently - but beware, because the cost of plastic surgery could land you in a financial mess that isn't pretty. The argument over whether surgery will make you happier seems to have been won by the scalpel-happy in the case of Botox. There's a new study out that claims that because botox fans like Katie Price can't frown any more, they are more likely to have a sunny disposition.

However, at the same time new research shows it's not just our skins that are getting over-stretched by surgery.

Sainsbury's Finance estimates that nearly £12 million was taken out in personal loans last year to help pay for surgery. Some 800 loans worth £4.77 million were used to pay for cosmetic surgery and just under 1,000 loans were used to pay for other surgical procedures such as hip replacements.

More than 36,000 surgical procedures were carried out by members of the British Association of Aesthetic Plastic Surgeons (BAAPS) last year – a rise of 6.7% on 2008. Women had 5.4% more procedures than in 2008, but male cosmetic surgery saw the biggest increase. Last year, surgeons carried out 581 breast reductions for men, a rise of 80% on 2008.

Steven Baillie, Head of Loans, Sainsbury's Finance said: "Although the majority of personal loans are taken out for the usual domestic reasons such as home improvements and buying cars, a significant number, even in today's economic climate, are used to fund more unusual expenditure such as cosmetic surgery."

There are those who will argue that as long as you get a competitive loan, and that as long as the surgery significantly enhances your life, it's money well spent.

However, there are others who remain unconvinced. Getting a loan isn't something to be undertaken lightly. Borrowing money automatically implies that you can't actually afford the thing you;re paying for. And while some expenditure can be argued to be an investment - like home improvement, or the kind of household necessity it's difficult to afford up-front - like a new car - surgery fits into neither category.

And with high-profile surgery fans like Katie Price reportedly unhappy after some procedures, it begs the question of whether it's all worth it.

But what do you think? Is cosmetic surgery an expensive waste of money that we can ill-afford, or an investment in happiness? Let us know in the comments.