Brits ‘seeking better deals to reduce debt concerns’

People in Britain are looking at a range of money-saving techniques in a bid to avoid the need for debt management help, new figures have suggested.

Research carried out by Santander Current Accounts has revealed four-in-five Brits are actively embracing the age of austerity.

The study showed 81 per cent have made lifestyle changes in an effort to reduce their expenditure.

More than half of UK residents (55 per cent) admitted they now shop around to find the best deals on groceries, with one-in-four (27 per cent) switching supermarkets to reduce their food bill.

This means 13 million people altered their food-shopping habits to reduce their outgoings.

Moreover, 28 per cent of the survey’s respondents said they have started searching for goods via online bazaar eBay or in charity shops, rather than buying products that are brand new.

And instead of purchasing vegetables from shops or markets, one-in-eight Brits have resorted to growing their own.

So-called luxury services appear to have been eradicated by thrifty consumer also, with 12 per cent cleaning their own vehicles as opposed to taking them to the car wash.

Expensive lunchtime meals seem to have been eradicated by many, as one-in-five (21 per cent) of workers claimed to have begun taking in their own food to eat.

Helen Bierton, head of Santander Current Accounts, noted there have been warnings of the upcoming ‘age of austerity’ for some time, “but most of the British population are already taking measures to cut down on their daily expenditure”.

A recent report by RIAS suggested parents are trying to reduce their spending by enlisting their children’s grandparents to look after the youngsters during the summer holidays.

By Joe Shervin