Taking car insurance out while under the influence
Tue, 10 Jan 2006
Heavy drinking over Christmas could be the reason for many people making poor financial decisions especially when it comes to renewing car insurance.
Research from online bank cahoot suggests that the festive period also become a "Twilight Zone" for many of its customers, meaning that some many have made unwise financial purchases because they were not thinking clearly.
The survey discovered that over 300 customers forgot their passwords over Christmas and had to have their account ID reset, whilst 80,000 customers logged on to their account, paid a bill or transferred money between midnight and 6am over the holiday.
"Whilst it is a good thing that online banking allows you 24 hours access to your money, these figures show that burning the candle at both ends doesn’t mix with banking," said John Goddard, managing director of cahoots.
He added: "If in doubt, leave the PC turned off and wait until the next morning before dealing with finances. Christmas hangovers are bad enough without having to deal with money mix-ups!" 
© Adfero Ltd
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