By Daniel Hunter

Nearly one in ten people are overdrawn all the time, according to new research from thinkmoney.

This means that 4.5 million people are constantly in debt to their bank or building society. The survey also found a further one in ten people who aren't always overdrawn still tend to dip into their overdraft every month while one in four does so 'from time to time'.

The findings suggest that millions of people are incurring overdraft charges on a regular basis - penalties many can ill afford. Almost one in ten said their overdraft typically costs them £30 a month in interest and charges.

While there is little difference between men and women when it comes to going overdrawn, there is a disparity between young and old. Just a fraction of people aged 65 and above said they were constantly overdrawn, compared with one in eight 25-to-34 year-olds.

Across the country, those living in the North East of England are the best at staying in the black (two in five said they never go overdrawn), followed by people in the West Midlands and residents of both South East England and Yorkshire and the Humber. Just half of adults in Northern Ireland ever use their overdraft.

“Slipping into overdraft territory is a common fear — and the charges can soon mount up, especially for those who don’t have an authorised overdraft,” said Ian Williams from thinkmoney.

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