Over Half of Brits Reduce Outgoings
Posted on 21 July, 2008 at 14:59 by Peter Kelly
Economic struggles in the UK has led to 60% of us to prioritsing cutting back on unnecessary spending above anything else, according to research from GoCompare.com. This came above saving, moving home or contributing to a pension.
Many of us are worried about getting into debt, with the rising costs of living and tightened lending criteria meaning that more and more people are seeking debt advice. The survey, which polled over 1,000 people, found that almost half (49%) are either concerned or very concerned about their finances this year and beyond.
Those which were most concerned about their financial worries fell within the 16-24 year old category (65%), which would reflect those who are struggling with education debts and trying to get their foot upon the property ladder.