Crunch causes spending cut, says Alliance & Leicester
The ongoing effects of the credit crunch have kept saving at the top of Brits' monetary agenda, according to a study by Alliance & Leicester.
Crunch causes spending cut, says Alliance & Leicester
The ongoing effects of the credit crunch have kept saving at the top of Brits' monetary agenda, according to a study by Alliance & Leicester.
New research by the credit card provider suggests just under one in three (29 per cent) of respondents say they have reduced their spending and are making moves to save more.
The younger generation appears even keener to save, with 36 per cent of youthful consumers taking steps to tighten their purse strings.
When it comes to taking financial decisions, the internet is the most popular source of information for nearly half (48 per cent) of Brits, while 31 per cent make choices based on conversations and discussions with family, friends and colleagues.
Hetal Parmar, manager for savings at Alliance & Leicester, comments: "It's encouraging to see that, despite difficult circumstances, a good number of people have responded to the credit crunch by putting sensible measures in place, cutting down their outgoings and spreading their savings around."
Alliance & Leicester offers a range of credit cards, including the MoneyBack Rewards credit card, which can allow users to earn as they spend by accruing points.
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