The Nottingham: Consumers spend less on luxuries

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The Nottingham: Consumers spend less on luxuries

Fri 20th Feb 2009

The Nottingham has conducted a survey which reveals that many consumers are spending less on luxuries than they would normally because of the credit crunch.

According to the building society, more than half of people it polled said they are cutting back on the amount they spend on clothes and on eating out at restaurants.

The Nottingham also found that people are cutting back one the amount they use their cars, with one in four people saying they have started taking the bus into work rather than driving.

Lorraine Giddings, who runs the society's 32-strong network of building society and estate agency branches in Nottinghamshire and Lincolnshire, said: "For many years we have had a live now and pay later attitude, so it is great to see that people are starting to return to the traditional approach of putting money aside."

The Nottingham was founded in 1849.

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