Yahoo Finance Brits are clueless when it comes to the cost of these everyday items
Britons are pretty much clueless when it comes to the cost of many everyday goods.
The price of two pints of semi-skimmed milk leaves many people baffled, while others are bemused at how much to hand over for a tin of beans.
Still more can’t say what a loaf of bread costs or a dozen eggs.
Yet, most people do have a good idea of the price of a pint of lager or a takeaway burger.
Free-for-life credit report provider Noddle tested people across the nation on their knowledge of the cost of everyday items in their area.
It found that the average Briton could roughly price only three out of 10 such items.
The item that people fared the worst at guessing the price of was two pints of semi skimmed milk, followed by a tin of baked beans and a dozen eggs.
The remaining seven items among the 10 were a white sliced loaf, a tin of tuna, chocolate biscuits, a takeaway burger, a takeaway latte, a pint of lager and a pack of tea bags.
The answer to the average cost questions is ‘A’ in every case.
MORE: These are the times of day when supermarkets slash prices
Jacqueline Dewey, managing director at Noddle.co.uk, said: “It’s really important to keep a close eye on all spending, no matter how big or small.
“Good money management through regular budgeting is proven to help in the long term, whether you’re well off or trying to save.”
Noddle said the lack of knowledge when it comes to the price of goods could be an indication of a wider problem with budgeting, with fewer than one in four of (24%) setting a weekly or monthly budget and four in 10 people (40%) relying on credit cards to pay for groceries on a daily or weekly basis.
The study also revealed where in the country we’re most savvy to the cost of goods, with people from Bristol correctly identifying the prices of six out of 10 items and Londoners only able to identify two.
“Having to resort to credit cards or overdrafts to make ends meet can be bad news for your credit score,” added Dewey.
“Everyday spending can start to mount up if you’re not careful, but keeping an eye on your incomings and outgoings is one of the best things you can do for your credit score – and your bank balance.”
