lost money

20 07 2006

A study by Visa showed that the average adult in Britain spends $61 every week with no recollection of what the money bought.  That is $3,172 a year!  That is not a small number!  It’s no wonder there’s so many people in financial trouble, if they aren’t keeping track of their expenses better than that. I suspect the numbers would be similar in the U.S., if not higher.

The study also revealed that 75 percent of people make a habit of checking their bank or credit card statements, which shows that cash spending is the biggest part of their financial mystery.  But I wonder why 1 out of 4 people do not check their monthly statements.  It’s a good idea to keep an eye on those things, to make sure there aren’t errors or fraud.

You can read more stats from the survey here.

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