YOU’RE GONNA WASTE AT LEAST £30k IN YOUR LIFETIME
jeanniejeanniejeannie.co.uk BLOG 11th April 2018
THOUGHTS FOR THE DAY
The average Brit will waste more than £30,000 in their lifetime – after losing track of monthly direct debits, it has emerged.
Researchers who carried out a detailed study found the typical adult pays out just over £111 in direct debits every month.
But incredibly around £40 of that is for products or services we have either forgotten about, or never use.
Of the monthly outgoings we regularly find ourselves paying for, gym memberships were deemed ‘most expendable’.
Museum memberships, subscription to the National Trust and Cinema club fees were all also considered direct debits we’d cancel if we could be bothered.
The shocking figures emerged following a study by Sky Mobile which was launched after discovering their UK consumers were wasting an estimated £2bn a year paying for data on their phone tariff they didn’t use by the end of each month.
Sophia Ahmad, director of Sky Mobile: “It’s important to keep an eye on payments which may unnecessarily drain our funds.
“To ensure customers don’t waste money paying for data they don’t use, Sky Mobile launched Roll, which automatically rolls over any unused data into their Sky Piggybank every month.
“Here, the unused data is saved for up to three years to use whenever it is needed, so there’s never any need to feel your mobile deal isn’t going as far as it should.”
The study also found one in four Brits have experienced a nasty surprise when they checked their bank balance and discovered an overlooked monthly payment had reduced their balance.
And while one quarter of those surveyed have checked their direct debit payments in the last month, one in seven have never stopped to take stock to see where they might be wasting money.
Of those surveyed, one in two said they found it a struggle to make their wages last until pay day, and one in four found it tough to keep track of spending.
Of those who have to stretch every penny to make it through the month, 74% think their situation could be improved by managing their direct debit payments better in a bid to stop wasting money.
Forty seven per cent said they would feel more inclined to sign up for a service if they were able to rollover unused parts of their deal into the following month to reduce wasted spends.
A resounding 77% of adults who are paying direct debits for services they don’t use are unsure why they continue to pay the fees month after month.
Despite this oversight, which costs an average of £39.89 a month or £478.68 every year, nine in 10 Brits do consider themselves ‘financially savvy’.
One in two cheeky consumers admitted trying their luck by signing up to a monthly subscription to take advantage of a free month or offer, only to cancel it before the first payment leaves their account.
But the trick rarely pays off, as half of these scheming Brits have found themselves caught out with an unexpected payment when they forget to cancel the subscription once the offer has expired.
INSPIRATIONAL QUOTE FOR THE DAY
“Whether You Think You Can Or Think You Can’t, You’re Right.”- Henry Ford
Happiness is…not wasting money and making every penny count
GRANDAD’S ONE LINER JOKE OF THE DAY
I met a Dutch girl with inflatable shoes last week, phoned her up to arrange a date but unfortunately she’d popped her clogs – Peter Kay
Love is…staying in love for a lifetime and beyond
TRACK OF THE DAY
Rock Me Gently – Andy Kim
Highest Chart Position: No.2 12th October 1974