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01/11/12
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Money advice in increasing demand, says study
31/10/12
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Payment barriers exist for disabled and older people, says study
31/10/12
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Gender differences apparent when financial planning
31/10/12
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Half of Brits shop with a basic credit card, says study
30/10/12
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Number of Brits sitting on forgotten direct debits - 2.68 million
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News
10/05/2012 17:14:12
Britons being baffled by their bills
More than half of all consumers in the UK believe companies deliberately make bills confusing, according to a new study.
Gocompare.com found that 36 per cent of people find their electricity bill difficult to understand, closely followed by gas bills (33 per cent) and water bills (16 per cent).
The top causes of confusion were complicated calculations, cited by 68 per cent of people, not understanding the terminology used (38 per cent) and being presented with too much information (29 per cent).
This confusion means people are not keeping track of their spending, as 20 per cent won't read a bill if it is confusing.
"We all need to manage our outgoings proactively, and these people could be overpaying bills if they are based on estimated energy usage rather than an actual meter reading," said Jeremy Cryer, Gocompare.com's head of energy.
Earlier this year, four in ten people told Consumer Focus that their winter energy bill was higher than last year, despite the fact it was one of the mildest in recent times.
