Replacing forgotton subscriptions with peace of mind

Posted : 05-09-2005

Britons waste millions of pounds a year on direct debits for magazines and gym subscriptions they've failed to cancel, a new study finds, but fail to take out cheap insurance policies that could play a huge role in unforeseen circumstances.

A new survey by Portman Building Society finds that, of 57 per cent of British adults unhappy with a direct debit, 40 per cent regret magazine subscriptions, and more than one in three are not using their gym membership.

"Annual gym memberships that last only as long as New Year’s Resolutions, magazine subscriptions that are never read and other poor value investments mean that Britons literally waste millions of pounds a year," said Helen Shaw, group communications manager for Portman Building Society.

At the same time as people let money slide out of their account on to forgotten subscriptions, 22 per cent of Brits have not taken out home contents insurance and three in ten drivers say they have no car insurance, research by Abbey National shows.

Taking up cheap car insurance and home insurance can not only buy you continous peace of mind but can act as a worthwhile investment in the case of unforeseen circumstances.

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