cahoot Current Account conscious of overspending Brits
www.moneynews.co.uk > Cahoot > cahoot Current Account conscious of overspending Brits
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Money News |
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cahoot Current Account conscious of overspending Brits
Fri 7th Apr 2006
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According to the cahoot Lifestyle Index, 59 per cent of people spend more money than they earn.
As a result, 49 per cent are forced to put purchases on their credit cards and 48 per cent use an overdraft.
With so many people funding their lifestyle in this manner, cahoot is offering an interest-free overdraft of £100 to current account holders, who can also apply for a flexible loan.
cahoot also sends current account holders a text alert to warn them when they are about to reach the limit of their overdraft.
John Goddard, managing director of cahoot, commented: "Once the bills and the mortgage are paid, people like to treat themselves, and by far the most popular way to do this going to a restaurant or having a takeaway.
"However, a disposable income equal to around a quarter of net salary doesn't always stretch as far as some people would like it to.
"This could create problems if people aren't managing their money properly and having to let their belts out when they should be tightening them!"
Related News : Cahoot |
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