9 October 2008
As the economy slows further and the credit crunch continues to bite, many households are reigning in their spending and adopting money saving measures. This is the conclusion of a new survey by uSwitch.com, which reveals that consumers have successfully saved £2.7 billion by making small lifestyle changes. According to the research, 20 million UK adults have cut down on trips to the pub and 8.3 million have cancelled their holiday plans this year. Over half have switched to a cheaper supermarket in a bid to reduce their weekly shopping bills and a quarter are now buying supermarket own brands. uSwitch.com is reminding consumers that by switching to cheaper financial products as well as less expensive food goods, consumers can save significant sums of money. "Consumers must continue to fight back if they are to keep their head above water at what is still a volatile time," said Ann Robinson, Director of Consumer Policy at the independent price comparison and switching service. One area where consumers can save is on car insurance. According to the Association of British Insurers, even younger drivers could make "significant savings" by shopping around for cheaper deals.
© 2008 Adfero Ltd
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