Woo-hoo! It’s payday! But how do you spend all that money? Does your salary go straight out the door, do you have a bit of loose change to spend, or do you save as much as you possibly can?
It’s likely that first option, according to a new infographic from UK payday loans provider Wizzcash. The company polled nearly 1,000 people in the UK to find out about their monthly spending and saving habits, and the results make for pretty rough reading:
- 34 percent of respondents said they run out of cash before the month is out.
- 31 percent say they’ve fallen into debt after a payday spending spree.
- Nearly half say they struggle to save more than £100 a month.
Furthermore, plenty of people rely on credit – including credit cards, overdrafts, and loans – to get through the month.
[The American financial situation isn't much better, which is why we felt it a good idea to run these numbers from the UK. – ed. note]
Check out the full infographic below – and think about how your spending habits match up:
Irma Hunkeler works for BlueGlass.co.uk, a digital marketing agency.