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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

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 It is now over 6 months old so the content may be out of date.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

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