A third of all annual salaries “disappear” says poll

A third of adults in the UK are completely unable to account for more than £3,000 of their annual salary – equivalent to a sixth of their average income.

Monthly, that works out as £276 that a third of the people in the UK have no idea how they spend.

Two fifths of respondents to the survey said that they would like to bank the money that tended to disappear, adding that they are planning to change their approach to saving.

Just one fifth of the population said that their approach to savings was satisfactory.

“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,” said Simon Ripton of Alliance & Leicester.

“People could make substantial savings just by changing the way they manage their money on a monthly basis – and who knows, after a year of regular saving you might have enough for a dream holiday as well as paying off those nagging debts.”

Would-be savers can find the best savings account rate online.

© Adfero Ltd

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