You underestimate your annual bills by £1500

Oct 13, 2014 Blog RSS feed At the start of 2016, when we were all busy trying to stick to those New Year financial resolutions, reports appeared in the media that could throw light on why many of us struggle to keep on top of our money. A survey carried out for the banking group Santander revealed that Brits underestimate what we spend on our household bills by around £1,500 a year. That’s a pretty substantial margin of error. Perhaps it’s a symptom of just how much many of our regular payments have gone up in recent times but it would seem that very few of us really understand what our annual outgoings are – and that’s the first step on the road to bad budgeting. The survey says… The Santander survey highlighted the misconceptions many of us seem to have about how much it costs to meet our annual household bills for council tax, TV, utilities, broadband and phone. While an Office for National Statistics Living Costs and Food Survey indicated that the average Brit thought t
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