In excess of two million employees never manage to get their bank accounts into the black. In addition to the 2.1 million people who are in the red all the time, another 8 million dipped into their overdrafts at least once in the past year. The survey was carried out by Moneysupermarket.com, the price comparison website. It revealed that, on average, workers last until 27 days after payday before becoming overdrawn. Those most likely to have recourse to their overdrafts were 18- to 24-year-olds, of whom 60 per cent regularly go into the red. Those most likely to avoid using their overdrafts were 55- to 64-year-olds, of whom only 36 per cent fail to remain in credit. Date:23 July 2007
Content by: Made Simple Group
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