Research from Abbey Mortgages has revealed that 86% of Brits are taking some form of measure to combat rising inflation.

Almost half are planning to raise extra funds from sources outside regular employment and a further 84% are planning to cut back on non-essentials in order to save money and cover essential bills such as mortgages and utility bills.

Nearly a third are planning to sell some form of possession to help combat the rising cost of living, 1.3 million of which are planning to sell their car as a result of rising fuel costs. A further 3% are considering pawning a possession.

Phil Cliff, director of Abbey Mortgages, said: “With over 80% of Brits taking measures to save money and earn extra cash, it’s clear that belts are tightening all across Britain.

“Careful financial planning and budgeting can help combat the effects of rising inflation, and everyone should ensure that they are shopping around for the best financial products.”