FINANCE - We have recenty been given this information. Are you finding that there is more month than money?
64% of Brits admit to running out of money before payday, with 28% opting to borrow from friends/family
53% of Brits surveyed couldn’t live for longer than one month with their current savings
7 in 10 people admit to being unhappy with their current level of savings
66% state that money worries have negatively affected their mental health
Money expert Kane Georgiou from TheMoneyPig.com has also provided some top tips on how to track your money.
| Do you currently have savings above £100? | |||||
| No | 36.00% | ||||
| Yes | 64.00% | ||||
| Of those who answered no: | Of those who answered yes: | ||||
| Female | 54.00% | 45% | |||
| Male | 46% | 55% | |||
| Are you happy with your current level of savings? | |||||
| No | 71.00% | ||||
| Yes | 29.00% | ||||
| Of those who answered no: | Of those who answered yes: | ||||
| Female | 59.00% | 30% | |||
| Male | 41.00% | 70% | |||
| Do you put aside money as soon as you get paid? | |||||
| No | 45.00% | ||||
| Yes | 55.00% | ||||
| Of those who answered no: | Of those who answered yes: | ||||
| Female | 43.00% | 56% | |||
| Male | 57.00% | 44% | |||
| How often do you run out of money before payday? | |||||
| Always | 15.00% | ||||
| Most of the time | 27.00% | ||||
| Occasionally | 22.00% | ||||
| Never | 36.00% | ||||
| Of those who said never: | Of those who said always, most of the time or occasionally: | ||||
| Female | 25% | Female | 65% | ||
| Male | 75% | Male | 35% | ||
| If you run out of money before payday, what do you do? | |||||
| Reduce spending | 25.00% | ||||
| Borrow money from friends/family | 28% | ||||
| Go into overdraft | 13.00% | ||||
| Borrow money from another source | 3.13% | ||||
| I don’t run out of money | 31.25% | ||||
| If you lost your income, how many months could you go without borrowing? | |||||
| Less than one month | 25.00% | ||||
| 1 month | 28% | ||||
| 2 months | 13.00% | ||||
| 3 months | 3.13% | ||||
| 4 months | 3.13% | ||||
| 5 months | 3.13% | ||||
| 6 months or more | 25% | ||||
| Do you monitor your spending throughout the month? | |||||
| Yes | 53.00% | ||||
| No | 47.00% | ||||
| Of those who don’t monitor their spending: | Of those who do monitor their spending: | ||||
| Female | 43% | 53% | |||
| Males | 57% | 47% | |||
| Do you, or someone you know, have more than one job to make ends meet? | |||||
| Yes | 56.00% | ||||
| No | 44.00% | ||||
| Have money worries ever negatively affected your mental health? | |||||
| Yes | 66.00% | ||||
| No | 34.38% | ||||
| Of those who said yes: | Of those who said no: | ||||
| Female | 59% | 32% | |||
| Male | 41% | 68% | |||
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