Debt management problems are increasing for many consumers around the country, but figures from Halifax Home Insurance have shown that 61 per cent of people could be making savings by being careful before they wash.
And the latest research suggests men are more wasteful in this regard than women, with British males washing away an annual total of some £95 million in cash.
Vicky Emmott, senior manager of underwriting at Halifax Home Insurance, said: “Aside from the obvious advice that people should check their pockets, householders can reduce their financial risk by ensuring they have adequate home insurance.
“[This] will not only cover them for cost of replacing any washed items, but also any subsequent water damage to the home.”
Figures from Credit Action have shown that the UK’s personal debt management burden is now worth more than £1,325 billion.