Average Brit Is Broke A Week Before Payday

By PYMNTS | April 30, 2013

A poll conducted by MyVoucherCodes.co.uk reported that many British people are running out of money a week before their next payday, reports ThisIsMoney. The discount site polled over 2,000 Brits who were over the age of 18 and working full time. About 86 percent of these participants reported that they have no money to live on a week before the next paycheck. After running out of money, 37 percent said they borrow money by going into overdraft, or use a credit card to get through the last week. Nine percent said they turn to their parents for help with cash to survive.

Mark Pearson, chairman at MyVoucherCodes.co.uk said, “To see that many Brits live on absolutely nothing for a week, on average, every month is a huge shock. It makes me wonder whether or not people are managing their money effectively.”