The majority of people spend their wages by the 20th of each month, according to a new survey.
Research from The Co-operative Bank Current Accounts has found that many consumers embark on shopping trips and nights out when they have been paid, leaving them to rely on borrowing for the remainder of the month.
This can lead to overdrafts and credit card debt being built up, the company noted.
The data showed that the average UK adult who earns Â£1,583 spends half their money by the 11th and that most people live on ten per cent of their salaries after setting aside money to pay bills.
Spokesperson John Barker urged Britons to consider debt management, commenting: “In the present economic climate developing a household budget is essential to keep spending in check and to identify ways costs can be trimmed.”
Elsewhere, Unbiased.co.uk has revealed that UK borrowers repaid a “staggering” Â£38.6 billion of non-mortgage debt during 2008.
By Jamie Price