Malditos_Usureros
Madmaxista
Britain goes back to post WWII ways of living
Never mind the luxuries – Britain goes back to post WWII ways of living
* Over 43 million Britons take measures to fight the credit crunch
* WWII budgeting behaviour is back as growing vegetables, mending clothes and hand washing make a re-appearance
* Over 334,000 Brits have replaced cinema trips with playing board games
With antiestéticars of the credit crunch in full swing, people all over the country are trying to find new ways to cut down on spending – and it seems it is not just the luxuries that have to make way.
New research from Kaupthing Edge, the leading online savings bank, shows that Britons are getting more and more creative when it comes to rationing their money - and it looks like we are returning to a WWII-like budgeting behaviour.
While over 43 million Brits state they have taken some sort of money saving measures to escape the credit crunch pinch – a whopping 33 million Brits (69%) are rationing the electricity they are using by making a conscious effort to turn off lights and electrical items.
Just under three in five people (59%) state they are being more cautious when it comes to food shopping by making use of special offers and money off vouchers to cut their shopping bills.
15% of Brits take even more drastic measures, stating they have started to grow their own vegetables to save on grocery costs, while almost one in ten (9%) say they have started to mend clothes rather than buy new ones. 143,000 Brits (3%) have even started hand washing clothes rather than use the washing machine to save on energy costs.
For over 334,000 of us (7%) a cultural evening out, with a trip to the cinema or theatre has now been replaced by playing a good old board game! Interestingly this figure is particularly high among the younger generations, with one in ten (10%) of 18 to 34 year-olds stating they have started playing board games as a way to save money.
Ashley Whittaker, Head of Retail Savings at Kaupthing Edge comments:
"It's good to see that Brits are becoming more proactive in making their money work harder for them. Our study shows just how much people are doing to cut down on costs, from simple things like turning lights off and save on energy bills to more drastic measures such as growing their own vegetables".
"It is good to see that being savvy when it comes to money matters has once again become a priority for people - but it is not just costs that people should think about carefully. With people tightening their belts all over the country, it is crucial they make the most of the money they have put away in their savings accounts. Kaupthing Edge currently offers a competitive 6.5% on its instant access savings account and what is more important – the rate is guaranteed to be at least 0.3% above base rate until 2012."
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Which of the amowing have you done in the last 12 months to cut down on the money you spend?
Actions taken by consumers to make savings Value by percent of consumers who have taken actions
I am making a conscious effort to switch off lights and electrical equipment
to save on electricity bills 69%
I have started making use of special offers and money off vouchers when doing
my food shopping 59%
I have cut down on eating out/ buying take away food 53%
I have turned down my heating to save costs 51%
I have cut down on car journeys to save money on petrol 40%
I have started buying cheaper brand toiletries 34%
I have switched utility provider to a cheaper one 31%
I am having showers instead of baths 31%
I have reduced my use of my mobile phone 30%
I have started to grow vegetables to save on groceries 15%
I have reduced my use of dry cleaners 11%
I am now mending clothes rather than buying new ones 9%
I have stopped leaving tips in restaurants 8%
I have started to play board games/ read rather than go to the cinema/ theatre 7%
I have started doing hand washing instead of using the washing machine 3%
I have not made any special cut backs 10%
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