Spending less as bills increase

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Spending less as bills increase

Wed 8th Nov 2006

Customers are being forced to alter their spending habits in a bid to address an increase in household bills such as water and energy, according to CreditExpert's Personal Credit Index.

The research found that 17 per cent of people in the UK had decided to decrease spending so that they could meet the costs of household bills.

Concerns were raised over the cost of bills by over one in four people and this corresponds with just under half who believe that they are very confident that they can pay their bills.

Jim Hodgkins, managing director of CreditExpert.co.uk, said: "The recent increases in household bills have hit many people hard and caused them to cut back on their spending.

"The latest Personal Credit Index also reveals that many adults have increased their borrowings in the last quarter – and they could be borrowing even more in coming months to see themselves through the festive period."

The CreditExpert service is provided by Experian and seeks to analyse spending attitudes and behaviour among people in the UK.

Credit Expert gives people access to a 30-day trial credit report that provides information on credit history and identity theft advice.

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