Consumers don’t haggle, they tip needlessly in restaurants, they discard money off vouchers and pay over the odds for credit charges – at a time when money is tight, people are still wasting their cash.
• Before purchasing, only a third of consumers check the prices of banking rates (31%) and credit card interest rates (35%)
• 10% refuse to negotiate prices in shops
• 40% of defect goods remain unreturned
• 67% of ladies do not wear the new shoes and clothes they buy
• 78% of money saving vouchers get thrown out
• 29% of restaurant tipping is unnecessary if the service or food is bad
08 October 2010 – A new YouGov survey has shown reports of £millions being wasted by British consumers everyday. From tipping double in restaurants, paying higher than normal banking charges, putting money off vouchers in the bin and not comparing prices, Brits are wasting money which they should be looking after, especially at a time like this.
Across the British Isles, 2,000 people responded to the survey which was for the money saving website, DiscountVouchers.co.uk, and found that 43% have been paying higher than normal bank charges, 78% threw away money off vouchers and 29% tipped in restaurants where it wasn’t necessary.
“Keep the change” is a regular quote for 14% of men who try to show off in front of their friends or workmates. Ladies buy new shoes and clothes (67%), then do not wear them. Despite the usefulness of comparison websites, only 35% of people check the credit card interest rates and 31% check the bank rates before buying.
Mr S. Terry from DiscountVouchers.co.uk stated, “Too much money is being wasted in the UK according to the survey. People willingly tip in restaurants where it’s not needed and are not akin to haggling. People in the UK need to check their daily spending and see where cutbacks can be applied. Making positive changes to the way you spend helps in managing your finances more efficiently”.