Abbey Banking: Britons do not budget
www.moneynews.co.uk > Banking > Abbey Banking: Britons do not budget
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Abbey Banking: Britons do not budget
Fri 23rd Nov 2007
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Abbey Banking says that 64 per cent of people run out of money about five days before they are paid.
Nearly a third (31 per cent) rely on their overdraft when funds run dry, while a quarter use credit cards to survive.
Abbey head of banking Steve Shore said: "A staggeringly high number of people regularly fail to budget effectively each month and end up running out of cash before their next paycheque."
He went on to warn that the approach of Christmas meant that people had to budget carefully to make sure they did not run out of cash during the party season.
Recent research published by Lloyds TSB revealed that 59 per cent of people expected to overspend at Christmas.
Bad budgeting was the root cause of this, Lloyds TSB concluded.
Related News : Banking |
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Related News : Santander |
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