You are here: Home - Saving & Banking - News -

Brits prepare to budget

Written by:

Two thirds of UK adults intend to rein in their spending as a result of the credit crunch, according to life and pensions company Friends Provident.

Friends Provident’s research found budgeting is the top priority for 41% of consumers, while 33% plan to completely overhaul their finances as a direct result of the global credit crunch.

Three quarters of those who want to give themselves a financial makeover believe they will be able to save money by doing so and almost a quarter anticipate saving more than £500.

One in seven (14%) intend to limit their spending by cutting back on socialising, while a further 13% will save money by getting rid of their credit cards.

James Ward, director of marketing at Friends Provident, said: “The credit crunch is already impacting on consumers, both financially and psychologically. Our research found that 40% of people are worrying more about their finances because of the credit crunch. The trick is to harness this heightened awareness and to do something positive, like overhauling your finances, budgeting effectively, and investing your money in a way that makes it work smarter for your needs.”


Tag Box




Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
Room for improvement in insurers’ handling of complaints

More than half of insurance policy holders who made a complaint last year felt their claim was handled poorly, according...