New research2 has found that the typical adult spends £496 per month on regular commitments, but £39 of that accounts for services that aren’t used.
The most wasted outgoing is for gym membership, with 12% saying they pay for it, despite not using it. Other unused services include redundant mobile phones and streaming services.
The survey found 38% of Britons review their direct debits and standing orders only every six months, one in 10 check them less than once a year and 2.6 million (5%) admit to never checking them. Why not make this part of your financial spring clean?
2 Nat West, 2020
It is important to take professional advice before making any decision relating to your personal finances. Information within this page is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK.
Tax and Estate planning are not regulated by the Financial Conduct Authority
The value of pensions and investments can fall as well as rise. You may get back less than you invested.
Will writing is not regulated by the Financial Conduct Authority. Quilter Financial Planning Ltd are not responsible for any will writing advice.