Wednesday, December 30, 2009

Keep up with 'lost' money in your budget

Most unaccounted for cash is spent on groceries.

About $21 per week in cash spending can't be accounted for by the average American, says a survey commissioned by Visa.
Most of the 1,000 adults surveyed couldn't account for money spent buying groceries. Others couldn't account for money spent during a night on the town and dining out.

Worldwide, people don't know where 20 percent of their cash purchases went.

In younger adults 18-24, $2,500 is unaccounted for per year in the U.S. The poll has a margin of sampling error of plus or minus 4 percentage points.

Since the poll was commissioned by Visa, and only unaccounted for cash purchases were considered, it's likely Visa hopes we'll start putting more purchases on their credit cards. But another way to keep from losing track of these purchases is by using The Easy Budget. It works whether you're spending cash, debit, credit or check.

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