Increased Money Worries For Brits As The VAT Increase Approaches

Published: Tue Nov 09 2010

Results of a new survey which questioned British consumers have now been released. 88% of them said that versus last year they were more worried about their money situation. Other figures that came from the survey included 68% of UK consumers were worse off financially each month by up to £250; 15% were worse off every month by up to £500 and 1 in 10 admitted they were more than £500 worse off every month now. is a famous website specialising in money off vouchers. The site conducted the survey where more than 1,000 people throughout the UK took part. The results included 57% of survey participants were worried about this Christmas and how to pay for it; 27% about how to pay for school costs or activities for their kids; 46% about paying for their groceries; 40% even had concerns about how to pay for their rent or meet their mortgage payments; and 48% revealed they were worried about how to finance their energy bills.

Money worries were a massive factor in many people who responded to the survey, when deciding against making life changing decisions. 13% said they were not getting married until they were in a better position financially; 27% decided to not go ahead and buy a new house; 14% admitted they were now delaying having children; and 1 in 5 chose not to change their jobs.

1 in 10 of those who filled in a survey said they were obtaining a payday or a short term loan to improve their cash flow situation; making many worry more about money 45% also said that they were uncertain about how secure their jobs were or even their partner’s jobs.

Mr Simon Terry of commented. "As a staggering 83% of survey participants are up to £500 worse off each month, and VAT going up in January along with increase in fuel and energy now is the ideal tome to save money where possible."

He added, "Last year the recession was talked about a lot – but this year it seems UK consumers are being impacted by it greatly. The key to making your money go further is good money management, meaning comparing prices, using money off vouchers and haggling."

There were also revelations via the survey that people in the UK were starting to make cut backs, for instance 82% were reducing the frequency they visited restaurants or pubs; 70% reduced the amount of clothing they bought; 67% on shopping for food; and 69% on going on holiday.

The survey also found that 36% of those who took part in the survey were decreasing their mobile phone usage; 16% were cutting back on their home or their car insurance; and 13% were decreasing the amount of lessons or activities their children had.

According to the survey, money off vouchers where used when shopping by 86%; haggling was done by 27%; prices of items from different retailers were compared by 82%; and shopping at low cost stores was done by 72%. Those who said they were not trying to save any money amounted to only 0.5%.

Also found through the survey was that there are a growing number of Brits trying to make extra money to make ends meets, for example 2% are involved in a medical trial; 56% are going to car boot sales or using eBay to sell items; 3% have a lodger in their home; 1 in 5 have an extra job; and 7% sell food or clothes that they have made themselves. contains further information

About features the latest money saving offers from a growing range of retailers, all updated in real time. Designed to help consumers save money with both leading high street brands and specialist retailers, offers one of the widest choices of discounts available.

Part of ASAP Ventures Ltd, the company behind the award winning price comparison site, is committed to offering a growing range of the best savings available online.

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• 88% of UK consumers who took part in the survey said they are more worried about their financial position than they were last year
• 45% say they are slightly worried about the security of their partners job or even their own
• 40% have doubts about being able to meet mortgage or rent commitments; 48% have concerns about paying for their energy bills at home; 57% are concerned about being able to fully finance this Christmas
• 10% of respondents say every month they are now worse off by more than £500; one third reveal they are worse off by up to £250; and 15% by up to £500
• Until they are better off financially 13% say they are delaying their wedding; and 14% delaying starting their own family
Contact Name: Simon Terry
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