According to the research, two-thirds of people surveyed think their financial situation can only get worse in the next year and 89 per cent of people are paying more on household costs than 12 months ago.
Tom Allder, vice-president of UK lending at American Express, said: "Each British household is paying out thousands of pounds a year on everyday items such as supermarket shopping and petrol.
"Simply by changing the way they pay for these items, people could be earning themselves hundreds of pounds of free cash."
Meanwhile, a new scheme to help parents educate their children about personal finance has been launched in the House of Lords today, reports the Daily Telegraph.
It is aimed at the parents of children aged between eight and 15 years old and is designed to raise awareness of saving, debt and the differences between wanting and needing new goods.
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