New research on British households shows that nearly 40 percent of us have no idea as to what we are paying each month, and are living in blind ignorance amid continually rising prices.

The survey by moneysupermarket.com shows that 16 percent of consumers have no idea at all as to what their bills are and another 20 percent are clueless as to the total cost of their yearly bill.

With gas and electricity prices on the relentless rise it means that some households could be paying unnecessarily high bills. Scott Byrom, utilities manger at moneysupermarket.com, said: 'With the current spate of price hikes taking the average bill to record highs, customers should be on their game and know exactly how much they are paying in gas and electricity charges each year. The message is simple – for a medium user, if you pay more than £37 for your electricity and more than £51 for your gas per month, then you are potentially paying too much and should be looking to switch to a better tariff.'

Gas and electricity costs are often the second largest outgoing after a mortgage or rent payment. If you don't know how much you are paying you could be forking out over the odds, with the most expensive tariff coming in at over £1,391, compared to the cheapest at around £980.

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