A third of Britons do not know what they spend their money on after paying their living expenses, a survey from retail bank Alliance & Leicester has revealed.
The research shows that 33% of people in the UK cannot account for where their money goes after paying their mortgage, bills and living expenses. Two in five Britons (39%) intend to change the way they save this year while 19% believe that they save enough.
Over half (56%) make some saving, with the average amount GBP143 a month. A major goal for saving money is to pay off debts, with 35% saying that if they had GBP3000 saved up they would use it to help reduce the mortgage or debts.
Simon Ripton, current account manager at Alliance & Leicester, said: It’s clear that many of us would like to be better savers and the best way to get into the habit is to make regular monthly payments into a separate savings account – before we even get the opportunity to blow our spare cash on a big night out or a new pair of shoes catches our eye!