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Frugal is ‘cool’ for hard-up Brits

Tahmina Mannan
Written By:
Tahmina Mannan
Posted:
Updated:
09/01/2013

Austerity Britain is in full swing as penny pinching takes over as the new ‘cool’.

A report has revealed the top money saving tactics Brits have adopted to get the most out of their money.

Savvy money-saving methods such as using discount vouchers, collecting reward points and bartering in shops are now considered en vogue, according to the study by cash back site Quidco.

These modern day cost-cutting exercises were considered ‘shameful’ and would have made people ‘the laughing stock’ as little as five years ago, but nine out of ten people now consider being frugal as very ‘cool’.

According to the survey of 2,000 consumers, four in 10 people now think it has become completely inappropriate to flash the cash if you are lucky enough to have it.

Andy Oldham, managing director of Quidco, said: “Pulling out a voucher in a restaurant, or using coupons at the supermarket, used to be seen as something you only did if you were desperate and hard-up.

“But since the credit crunch first started to hit, Brits have had no choice but to become savvier with their money.

“The recession has changed many people’s attitudes to money for the better, and shopping around and hunting for discounts is now the norm.

“There are some people who even choose where they shop or eat out, purely based on whether they have a voucher or discount code for it.”

Shoppers are now going to great lengths to save money, by scouring the website, comparing prices and avoid paying full price for anything if possible. Two thirds of those polled preferred to look around before making the final purchase.

Other frugal steps Brits take daily include signing up to voucher and cashback websites, shopping in budget supermarkets and buying things on auction websites.

Four out of ten people now always shop in budget supermarkets, and 34% will search for vouchers or discount codes online before committing to buy something.

Ordering tap water, growing your own veg and opting for supermarket deals rather than takeaways are also listied high on the penny pinching radar.

TOP 20 ‘COOL’ FRUGAL THINGS

 1. Collecting reward points
 2. Use a discount voucher in a shop or restaurant
 3. Use reward points to buy something
 4. Check the price in different shops before buying an item
 5. Shopping around for best deals on insurance instead of automatically renewing
 6. Use price comparison websites
 7. Sign up to voucher / discount code websites
 8. Shop in budget supermarkets
 9. Buy things on ebay or other auction websites
 10. Search for discounts before buying something
 11. Selling things on ebay or other auction websites
 12. Take a packed lunch to work
 13. Use cashback sites
 14. Shop in charity shops
 15. Boast about bargains in stores
 16. Grow your own vegetables
 17. Order tap water in a restaurant instead of bottled water
 18. Get meals deals instead of takeaways
 19. Haggling to get a lower price
 20. Taking leftovers from the previous night’s dinner into work for lunch

 

 


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