Mobiles reflect finances, says Lloyds TSB

23 September 2005
A new survey from Lloyds TSB has found that the way people use their mobile phones reflects their money management personality.

According to psychologist Donna Dawson, commissioned by Lloyds TSB to carry out the study, the UK's 50 billion mobile phone users can be put into four categories which describe their money management methods.

A spokesperson from Lloyds TSB said: "There’s no denying the connection between the way we relate to our mobile phones and the way we manage our money but the connection isn’t always a positive one!

"Getting to grips with your finances isn’t always easy, but our new text alert service texts a mini- statement to your mobile phone, so for people that love their mobile but hate looking after their finances this could be the ideal solution."

The study found that people who use resent that their mobile phone can take control of their lives are good money managers. They tend to like internet banking as it makes them feel in control of their finances, the study found.

Conversely, disorganised people who miss calls are rarely in control of their finances and only check their bank account 'occasionally'.

Not surprisingly perhaps, people who are reluctant to have a phone prefer traditional methods of banking and do not like to be in debt, while people who cannot live without their trendy mobile phones cannot help splashing out and spending lots of money.

The survey coincides with the launch of Lloyds TSB's new text alert services which sends internet customers a mini statement via text message free of charge.

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