- Some Brits quite literally throw away more than £13,000 in their lifetime -

30 May 2012 – According to new figures released today by home phone, broadband and mobile firm TalkTalk, some Brits are throwing away over £200 every year. Never mind austerity Britain, despite the squeeze of family budgets it seems we still inadvertently put cash in the bin, ruin bank notes in the wash and even simply throw away foreign currency we can’t be bothered to convert back into sterling.

As a nation the point where we lose the most amount of money with gift vouchers given by well-meaning family and friends. Some Brits throw away £60 a year on unspent vouchers which either expire before we can use them, or are forgotten about in a drawer – never to be spent.

Going on holiday also causes ‘money waste’ with some Brits failing to exchange currency back to Sterling after a trip abroad. On average we lose £61 a year in this way – meaning that as a nation we have hundreds of pounds in useless currency sitting at home. Men are the worst culprits and are the least likely to exchange unspent holiday money back into pounds.

Ensuring you check your pockets before putting on the laundry could prove to be wise.  On average we lose £28 a year putting our hard earned cash into the washing machine.  As a nation we also lose around £60 a year in other ways – covering everything from gambling, money falling out of our pockets and dropping cash on a night out.

TalkTalk unveiled these results to mark the fact that cash-strapped British families could be saving on average £154 a year if they simply switched from BT to TalkTalk for their telephone and internet services. In real terms this means Newcastle would be £15 million pounds better off as a city, Liverpool £29m more cash rich and London could be saving £289million across the city on an annual basis.

Other ways in which Brits have lost money in the past 12 months include;

  • Leaving cash in the cash machine
  • Leaving or dropping change in a shop and not picking it up again
  • Throwing money in cards in the bin was one of the most popular ways of losing money for 18 -25 year olds
  • One respondent mowed the lawn over their wallet shredding £50 in cash
  • Buying a clothing in a smaller size in the hope that they would lose weight and fit into the item
  • One survey participant lit a cigar with a burning £10 note

Tristia Clarke, Commercial Director at TalkTalk said, “We are amazed at how much money Brits are throwing away every year. Wasting money can go beyond losing or misplacing our hard earned cash. People also waste lots of money on utility bills, for example, people could save up to £154 a year switching from their current internet and phone provide to TalkTalk.”