07 July 2008
A new survey has shown that consumers are failing to keep track of their spending, despite feeling the pinch from the credit crunch.
Three quarters of Britons cannot account for every penny they spend and half have only a vague idea of their bank balance, according to the poll by YouGov.
Nearly half of those aged 35 to 44 complained of being hit by the credit crunch, yet most admitted they had not checked whether changing service providers could save them money.
The poll also found that only 36 per cent of people aged under 25 have examined how they can save on bills and mobile phone services.
Finance experts say people's lack of action to tackle the squeeze on their wallets is surprising.
Personal finance website Everyinvestor, editor-in-chief, Chris Gilchrist said: "When you need to save money, the first place to look is your regular bills.
"It's surprising that a large proportion of those most affected by the credit crunch aren't looking more closely at where their money goes, since with items like utilities and mobile phones it's not hard to save money by switching to a better-value supplier."
The survey of 1,979 adults was conducted for Carphone Warehouse.
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