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Brits don’t know how they spend spare cash

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07/04/2006

Britons have an average of £276 left per month left to spend after their regular outgoings, but many don’t know what they spend it on, research has found.

According to the research from Alliance & Leicester, a third (33%) of Britons don’t know what they spend their money on after they’ve paid their mortgage, bills and living expenses.

However, the research showed that 22% spend it on entertainment and eating out, 14% spend it on treats for their family or friends, 14% spend it on themselves generally,  and 13% use the excess cash to stock their wardrobes with new clothes and shoes.

Yet 39% of Britons intend to change the way they approach saving this year, putting more of their outgoings aside, as currently only 19% of people think they save enough already.

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