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Britons changing attitudes to money

Britons changing attitudes to money

Category: Savings

Updated: 30/03/2009
First Published: 30/03/2009

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 It is now over 6 months old so the content may be out of date.

Britons are changing their attitudes to money and how they use it as a result of the economic downturn.

Many also believe that the financial conditions have caused people to become more caring and compassionate, according to the Charities Aid Foundation (CAF)

Over two fifths of people now believe that money is more important to us than before the decline, while almost one in four believe possessions are less important. Less than one in ten of us think that money is now less important.

Spending habits and lifestyles have also been tailored; 30 per cent of us are making a conscious effort to go out less, while one third are cutting back on holiday plans.

Many have taken to shopping around charity shops to nab bargains at basement prices and well over one in ten (14 per cent) of us are choosing to spend our money with companies who endorse fair trade or environmentally responsible business.

As a nation, our commitment to charity remains as strong as ever with. Almost eight in ten of us gives as much to charity as we did before the downturn and eight per cent giving more. Continuing the trend, one in three claimed that society had become more considerate in recent months.

"It is heartening to see that some good is coming out of these very difficult times as values in society change for the better," said John Low, chief executive of the CAF.

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 Any products featured may be withdrawn by their provider or changed at any time.

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