"Buy now pay later" No longer preferred option
Current economic conditions have made millions of Britons re-evaluate their financial priorities, according to research from Abbey Savings(1). In particular attitudes towards saving versus spending have changed dramatically.
In 2006(2), 17.1 million people (37 per cent) described themselves as a "spender", but today this figure has dropped to just 11.5 million (25 per cent).
With an additional 5.6 million (12 per cent) now trying to turn their back on their spending habit, the research also unveiled a significant up-turn in the number of people trying to save on a regular basis. In 2006, 2.7 million (6 per cent) people said they attempted to save every two weeks or more but today this figure has jumped to 4.1 million (9 per cent), a rise of 1.4 million.
Since 2006 the number of people who hold a regular savings account has jumped from 6 million (13 per cent) to 7.4 million (16 per cent), reflecting this change.
1. ICM questioned 1000+ UK adults 18th-20th July 20082. YouGov questioned 1000+ UK adults 25th - 31st October 2006
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