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Waste not, want not

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Waste not, want not

Apparently £14bn is wasted on Direct Debits on items that people ether no longer need or use
Quote
While vast numbers use the free banking service to pay monthly bills for anything from their gas and electricity to magazine subscriptions, many admit they do not even know how many direct debits they have.

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One in 14 families said 'yes' when they were asked: 'Do you think you are currently paying for any goods or services via direct debit, which you no longer need or use?'

That is most worrying. They know that they're paying for these things yet don't stop. Tardiness, laziness, too much money, too much hassle to cancel?
I'm I the position to check my bank account on a daily basis if need be but surely a monthly check-up isn't too difficult to arrange for most people Roll eyes

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Registered: 15-06-2007

Re: Waste not, want not

Looking at the actual press release http://www.moneysupermarket.com/c/news/are-you-throwing-money-away-every-month/0037147/ the numbers look very dubious
Such as
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The problem is that half of these direct debit users haven't a clue how many payments have been set up, while 7% - or some 3.6million people - admit they're currently paying for unnecessary bills.
That gives an adult population who have bank accounts of 51.4 million which coincidentaly is the total UK adult population
Two things wrong with that  - not all adults have a bank account (small proportion probably don't) many/most married UK adults have a joint bank account from which direct debits are taken
nanotm
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Re: Waste not, want not

not to mention many pay for a few things by DD that aren't necessary but there something they like to use, for instance a paid Microsoft account (because it comes with 10 email accounts for the family and some software and of course office 365 and 20gig cloud storage for 5 users)
never mind that many see insurance as an unnecessary expense they pay by DD ......
just because your paranoid doesn't mean they aren't out to get you