Norwich Union study shows changing financial habits
www.moneynews.co.uk > General finance > Norwich Union study shows changing financial habits
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Norwich Union study shows changing financial habits
Tue 7th Apr 2009
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Research conducted by Norwich Union has revealed a general consensus that frivolous spending must be reined in and that more frugal attitudes need to be adopted.
According to the study, three-quarters of Brits have become stricter with their expenditure as a direct result of the recession, while 44 per cent now set themselves a budget.
The economic downturn has not only affected money going out, however, it has also encouraged around a fifth of Brits to start saving.
Norwich Union head of investments Anthony Rafferty explained: "While economic times are tougher, people will look to make their money work harder, so they are more likely to think about where every penny goes."
Although this is promising, one area of concern for the insurer is the fact that many homeowners, as a result of adopting cost-cutting measures, have opted to scrimp on the wrong things - namely home insurance.
Click here for more general finance news.
Related News : General finance |
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