THE BRITISH – A NATION OF MONEY WASTERS?

Despite the prospect of ‘austerity measures’ an an overriding need for everybody - businesses and consumers - to save money, the British, it seems, are massive money wasters.

A recent survey conducted by YouGov on behalf of Dis- countVouchers.co.uk, found that 29 per cent of people still tipped restaurants that offered bad food or service and that 43 per cent were still paying high bank charges. The survey found that 78 per cent of people did not take advantage of money-off vouchers and that 14 per cent used the phrase ‘keep the change’ to show off in front of their mates.

A staggering 67 per cent of women waste money by not using the clothes or shoes they buy and only 31 per cent of people check bank rates, while 35 per cent check interest charges before buying goods. Eight and seven per cent of people respectively buy computers and sports equipment they don’t use.

According to Simon Terry of DiscountVouchers.co.uk, peo- ple in the UK waste money by not haggling on prices, they throw way discount vouchers and spend money on things they don’t need and buy unnecessary CDs and DVDs in shop sales.

It is estimated that 67 per cent of Londoners are more likely to waste money in sales, compared with 43 per cent of Welsh people. Men find haggling more preferable than women with eight per cent of men as opposed to 12 per cent of women stating they prefer not to haggle.

While buying a car is the most ‘haggleable’ type of pur chase for 55 per cent of British consumers, the figure goe down to nine per cent in electrical shops, eight per cent in travel agents and one per cent in restaurants.

Regionally, people in the South West, South East and Wales are most likely to haggle where only seven per cent said they wouldn’t haggle. Conversely, those least prone to haggling are to be found in the North East and East Mid- lands where 14 per cent said they wouldn’t try.

A big source of money-wasting is tipping in restaurants where men are the big offenders. Fifteen per cent of men said they would tip staff serving food because they fancy them, while seven per cent would leave a large tip if on a date or with a new partner. Three per cent said they would tip to show off to a workmate. Londoners are more likely to tip than people elsewhere in the UK. Compared with 38 per cent of Londoners tipping, the figure goes down to 10 per cent in the South West and South East, 14 per cent in Wales and seven per cent in the East Midlands. Surprisingly (for a nation dubbed, jokingly, as tight-fisted) 30 per cent of Scot- tish people are known to double-tip (whatever that means).

The advice from DiscountVouchers’ Simon Terry? “Ask yourself: do I need that, will I use it and am I getting the best price possible?”