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Daily Insurance Industry News
Tuesday 14th of August 2018
July 4, 2008

Legal & General research reveals household financial strain

by Richard Kilner

Story link: Legal & General research reveals household financial strain

Legal & General has conducted research which reveals that the current financial turbulence is having a serious impact on individual spending habits.

The research shows that 82% of Britons are altering their home life to take account of the economic situation.

Many are cutting back on going out, with 39% spending more time at home.

Over a quarter (26%) of the 4,400 Britons surveyed responded that they have changed holiday plans because of financial uncertainty.

The research also reveals a demographic divide, with 90% of single parent households affected, compared to an 82% average.

Worryingly, 50% of these households are cutting back on food spending, and 28% are planning on selling possessions to remain in the black.

 

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