One in three Brits rely on overdrafts to pay bills

More than a third of consumers have gone into the red in the last year, according to moneysupermarket.com

Figures suggest that consumers are being forced to cut back on spending and even use their savings in order to stay afloat – with one third using an overdraft in the last year alone.

The research showed that someone who constantly makes use of their £500 overdraft may be paying almost £200 a year more than they need to.

 

Source:  telegraph.co.uk

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