UK Consumers are Struggling for Money Even Though the Recession Has Ended, says a Recent Survey

November 11, 2010 (PRLEAP.COM) Lifestyle News
November 11, 2010 It was found by a recent survey that one in ten people of British consumers are more than £500 worse off each month, compared to last year. 15% of people are up to £500 and 68% of people are up to £250 worse off a month. This shows that 88% of people have money concerns in the UK., the money saving website, conducted the survey, asking 1,000 people in the UK and it was found that 57% of people will worry about paying for Christmas this year; 48% will worry about their gas and electric bills; paying for groceries is a worry for 46%; 40% are concerned about their rent bill or paying their mortgage; and 27% are wondering where they will find the money for their children's activities or school costs.

Life changing decisions are being shelved, such as getting married (13% are putting it off); 14% are not having a baby; one in five are not changing jobs; and 27% are not buying a new home, until their finances are in a better situation.

Some people, 10%, are using payday loans or a short term loan to manage through the month, and 45% of people were scared of losing their employment, or they partner losing their job, adding to their money worries.'s Simon Terry said: "People are finding their finances are worsening this year, even though the recession was meant to be last year. Money is tight and people are struggling more in 2010". He continued, "It's amazing to think that the vast majority of people, 83%, are up to £500 worse off than last year, and combined with the VAT increase in January and increased fuel and energy costs, things need to change in regards to money management".

"Taking advantage of money off vouchers, comparing prices between shops and better managing of money, as well as negotiating on prices, is a great way to start to look after your money".

Brits are cutting their costs by 67% of them not spending so much on food shopping; 69% are lowering their holiday expenditure; 70% have cut their clothing bills down; and 82% are stopping going out to restaurants or the pub.

People are also slicing the costs of mobile phone costs (36%); children's lessons or activities (13%); and 16% have cut their home insurance or car insurance bill down.

Only 0.5% of people have not tried to reduce their outgoings while 27% of people decide that negotiating over prices is a good idea; 72% of people are shopping at cheaper shops; money off vouchers are used by 86%; and 82% of people compare costs before buying an item.

In order to generate extra cash, one in five Brits are taking on another job; selling items in car boot sales or online at eBay (56%); those that design or make clothing and food to sell are 7% of the people questioned; 3% made use of their spare room and rented it out; and 2% have taken the medical trial route to make money.

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