The “pre-pay day pinch”

One in eight workers run out of wages before payday

Research conducted by Opinium on behalf of Money Advice Service has found that one in eight workers struggle for money just ten days before pay-day, and a third struggle to make their money last in most months.

The survey results also revealed that more than a quarter of those who feel stretched for cash rely on credit or store cards. A similar percentage fall back on their overdraft to last through the month.

Of those who resort to using cards, almost half max out their credit cards before payday. Others admit to delaying their bill payments, living off toast or cereal or skipping meals altogether to make their money last.

Read more about this research here.