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Card-happy Brits losing control of finances
07/03/2006 15:20:00
Some 40 per cent of Britons have no control over their spending habits, according to a new survey.
Figures from National Savings and Investments (NS&I) show the worst culprits are women between the ages of 16 to 24, , who seem happy to keep spending, spending and spending on their cards.
Dax Harkins, senior savings strategist at NS&I, said: "The shift from physical payment in the form of cash to virtual spending on cards has caused many people to lose track of their day-to-day spending."
The news comes as it was revealed that 39 per cent of Britain's cardholders use them to make everyday purchases, giving them the feeling "they are not spending money".
"Brits need to set some time aside each month to look over their finances in order to stay financially fit and to avoid the costs involved with overspending," Mr Harkins concluded.
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