Running out of funds before pay day?

A survey by moneysupermarket.com suggests that 11 million people nationwide are turning to credit cards as a fall-back when they run out of funds in their current account.  On average, those in this group fall-back on their credit cards 21 days after being paid each month.  However, 9% of this group begin relying on credit cards less than 15 days after they have been paid, meaning they fund the remaining fortnight using credit cards.

 

Source: Credit Action – August 2011 edition

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