Britons show changing values and spending habits - Money - News - Moneyfacts

News

Britons show changing values and spending habits

Britons show changing values and spending habits

Category: Money

Updated: 31/12/2009
First Published: 31/12/2009

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

The impact of the recession has see millions of Britons change their spending habits in 2009, as people concentrate on saving, the environment and their families.

Research conducted by the Charities Aid Foundation has revealed that whilst half of people think having money is more important than before the recession, over a quarter (29 per cent) feel that having possessions is less important.

More than one in four (26 per cent) consumers has made an effort to save more money than they did before the downturn began, with 44 per cent and 38 per cent of people respectively spending less on going out and on holidays.

One in three respondents said that helping others in need or good causes had become more important in the last 12 months.

"As we move out of this very painful recession, it seems that society will emerge more caring and compassionate than before," Charities Aid Foundation chief executive, John Low said.


"If experience from previous severe economic downturns is anything to go by, this shift in values may last throughout the life time of the generation affected - surely this will be to the long term health of our society."

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

77% of Christmas gifts unwanted

Research from Policy Expert has revealed that while Brits spend an average of £424 on presents for friends and family, more than three quarters (77%) of these gifts may be unwanted.

New Year tips to improve children’s money skills

How many have better budgeting as their New Year’s resolution? As with many things, these skills are best learned when young, so Lemonade Money has come up with some tips to help parents make their children more financially savvy.

Money worries lead to Christmas on credit

Money worries are putting Christmas at risk for up to five million Brits, with 10% saying they regularly worry about money in the lead up to Christmas, and the same proportion feeling stressed about how much they are spending.
 
Close