Quarter of Brits 'feel the pinch'

Article date : 18/08/2010

Two in five Britons have admitted to feeling worse off financially now than they did during this point last year.

According to Confused.com, nearly 25 per cent of respondents admitted they needed to cut back on their spending in order to make ends meet.

Despite this, 27 per cent of consumers have now switched their provider for the 20 most common financial products over the past year, while 6.3 per cent of people have failed to check or compare the policies.

Indeed, only 17 per cent of Britons have compared their current energy deal in the past 12 months, while 11.27 per cent have never switched their utilities provider.

John Miles, business development director of Gocompare.com, said: "With the economic downturn biting hard, many consumers are now struggling to make ends meet so it's important that everyone does all they can to save money on their household bills."

In addition to looking for a better deal in utilities, improving energy efficiency can also se people saving money.

The Energy Saving Trust claims that people could save over £200 every year by upgrading a G-rated gas boiler to a modern condensing boiler.

Written by Tony Harrison

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