It may seem shocking to any financially diligent readers, but millions of Britons are actually ignoring their finances entirely as they spiral out of control. They are avoiding opening their bank statements and choosing to remain in the dark in a situation that has gotten too painful for them to handle.
Barclay has found that over 33% of account holders are selecting to ignore their bank statements and 38% of those who were polled for a survey through MoneySupermarket say that they don’t know exactly how much money leaves their account each month.
As Kevin Mountford of MoneySupermarket recommends, “Every penny counts right now, especially as we’re heading into a costly festive season and many people may be looking for ways to get a cash boost in time for Christmas. Checking all outgoings and making sure you are not paying for products and services you no longer use is an easy step to do just that. You should have a clear idea of what is coming in and going out of your account each month – spend five minutes looking at statements and identifying any mysterious payments you don’t recognize.”
In an interesting study, Barclays found that 55% of 18-24 year olds put off opening their bank statements each month, while only 48% of people nationally avoid booking dental appointments.
Interestingly, only 25% of Londoners said that they skip looking at their bank statements, while 44% of those in Scotland said that they do.
When it comes to making investments though, people in the UK should look towards hedge funds. Some examples of those that have fared well so far this year include: Saemor Capital, Dexia Asset Management and North Asset Management