16m run out of cash each month
One in three Brits regularly runs out of money before pay day, says a new report, leaving people broke on a regular basis.
Egg's new report estimated that over a lifetime, 16 million people in the UK spend a staggering 11 years without any money.
The online bank says that workers generally run out of money around five days before they get paid, and that running out of money isn't simply just annoying, it is costing them their cash.
Fees for exceeding limits on accounts cost an average of £27 per annum, and overdraft charges and interest rates can also be an added expense.
'A staggering 16 million Britons run out of cash each month and often resort to expensive overdrafts to make it through to payday,' said Andy Deller, Egg's chief marketing officer.
'Consumers can easily slip into the red each month if they don't have a clear figure of what they can afford to spend. However, separating spending money from predictable outgoings enables consumers to understand how much they have and gives them the confidence to spend within their means.'
The Scots tend to run out of money first, followed by the Welsh.
People living in the Midlands are the best at managing their finances, according to Egg. | 
