Savvy savers shopping around | moneyfacts.co.uk

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Tim Leonard

Tim Leonard

Finance Expert
Published: 10/11/2009

Britons have been increasingly shopping around and making changes to their lifestyle to counteract the effects of the recession, it has been revealed.

In order to cut down on their spending, National Friendly says more than three quarters of the population have changed their shopping habits over the last 12 months, swapping organic food for ordinary and cashmere for cotton.

Home-cooked meals are also back in favour, with 69% of people surveyed reducing the amount of takeaways and meals out they consume.

Meanwhile, the downturn has also seen people increasingly comparing the cost of utilities and financial services to find the best deal.

Over a quarter (28%) of Brits said they had changed their insurance, utility or mortgage provider in the last 12 months to get a better deal, when previously they would just renew their policy with their existing supplier.

"The recession has made people more aware of the benefits of shopping around and not just taking the first option they see," said National Friendly Chief Executive Richard Sear.

"I think this is something that will continue, even after the recession is over. Companies will need to do even more to remain competitive, as we will be left with a nation of people who are no longer happy just to accept what they have always known."

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