Salary stretch has Britons reaching for credit cards

Almost half of Britons are relying on credit cards to bridge the gap between paydays, according to new research from Quidco.
 
In the battle to make salaries stretch from one month to the next, over 66% of UK residents are admitting defeat - frequently turning to plastic to top-up their funds towards the end of the month.
 
The average pre-payday overspend on credit card stands at £180 per person, with total credit card debt amongst UK adults coming in at approximately £1.6k.
 
As the economy continues to enforce purse string tightening, research also reveals that almost one in seven of us are not living within our means. Though some (41%) blame this overspend on the ever-increasing cost of living, over a quarter of Brits admit unnecessary spending is the cause of their financial shortcomings.
 
However, consumers are also making efforts to adopt healthy shopping habits in a bid to make their money go further. Ninety one per cent of us shop around to find the best deals before making a purchase and almost one in four seek out voucher codes and discount codes prior to buying.
 
Andy Oldham, Managing Director at Quidco, comments: "Britons are undoubtedly still feeling the pinch when it comes to money management, as the financial climate fails to improve.
 
"Credit cards can be a tempting option, but there are other ways to soften the blow when making necessary purchases.
 
"Forty eight per cent of UK shoppers now use cashback sites when shopping online to earn some extra cash. With the average family saving £780 each year just by shopping with us, Quidco is committed to offering great value deals that help consumers avoid the plastic and pocket a little extra cash, too."