Abbey: Food budgets cut because of credit crunch
www.moneynews.co.uk > General finance > Abbey: Food budgets cut because of credit crunch
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Abbey: Food budgets cut because of credit crunch
Mon 23rd Feb 2009
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As the downturn makes people more cautious with money, Abbey Savings found that "the vast majority" of people in the UK are cutting back on their expenditure. Of these, 69 per cent say they have cut spending on food.
Abbey Savings' survey found that people are either choosing cheaper brands at the supermarket or even switching supermarkets in an attempt to reduce their food budgets.
Reza Attar-Zadeh, director of savings and investments at Abbey, said: "It can be surprising how even making a few small changes to our way of living […] can add up to hundreds or even thousands of pounds in savings over the course of a year."
Research conducted by the Nottingham recently revealed that many Brits are cutting back on other luxuries as well.
Click here for more general finance news
Related News : General finance |
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Related News : Santander |
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