Frugal Brits making money saving changes - Savings - News - Moneyfacts


Frugal Brits making money saving changes

Frugal Brits making money saving changes

Category: Savings

Updated: 30/07/2010
First Published: 29/07/2010

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 It is now over 6 months old so the content may be out of date.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 taking Government's 'age of austerity' message to heart by making sure they save money where ever possible.

Four in five (81%) people say they have already made lifestyle changes to reduce their spending, research by Santander found.

Over half of Britons have started shopping around in order to find the best grocery deals, with one in four (27%) saying they have switched to a cheaper supermarket.

Instead of buying brand new goods, 28% of people now shop online or buy from charity shops.

Consumers are also trying to cut down on household bills, with half of Britons saying they have recently started switching off lights and electrical appliances when not in use and 13% saying they have stopped using the tumble dryer.

It seems the public are catching on to the idea that it's the little things that count.

More than a fifth (21%) of people are now taking a packed lunch to work, 10% cutting out café coffee breaks and 12% saying they wash their car themselves rather than at the car wash.

"The coalition Government has warned of the impending 'age of austerity' for a while now, but most of the British populations are already taking measures to cut down on their daily expenditure," commented Helen Bierton, head of Santander Current Accounts.

"Many frugal Brits are cutting out luxuries, but the best way of getting more for your money is by shopping around and moving to providers of goods and services that offer better value."

If you're serious about saving money, the Best Buy tables could be the place to start.

Whether you're looking to switch your energy supplier or find a decent credit card to reduce your interest repayments, we're here to help.

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 Any products featured may be withdrawn by their provider or changed at any time.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

6 of the best monthly interest savings accounts

Monthly interest savings accounts pay interest on your savings each month – as opposed to yearly – and therefore allow you to take a regular income from your hard-earned cash.

Savings being used as a festive financial buffer

Good news from RCI Bank UK – its latest research shows that many of us are saving more than we were a year ago, but the question is, will you be dipping into that buffer to cover the cost of Christmas?

6 of the best easy access savings accounts

Easy-access savings accounts are as simple as they sound – they allow you to access your money whenever you need it, without having to give advance notice, and they also allow you to pay into them at any time. Here are six of the best.