With salaries remaining level during the credit crunch many people are reducing their spending, one insurance expert has claimed.
According to Bright Grey, people all over the UK are being forced to cut back on their out goings as the prices of petrol, food and fuel continue to increase.
It is simple to look at where savings can be made by examining day-to-day outgoings, said the company.
Roger Edwards, an insurance expert for Bright Grey, commented: "As a society, we have become quite used to luxuries."
On the way to work in the morning, a consumer might buy a tall cafe latte from a coffee shop which is about £2.60 a day and add this up over the course of a month, the final sum could be "a significant amount of money" - £30 to £40, he stated.
Research for Bright Grey, which was conducted by Tickbox.net/opinion matters during the summer, revealed that nearly two-thirds of people have cut back on their spending due to the state of the economy.
News by Adfero for Simply Business - independent providers of business finance, public liability insurance & landlord insurance.
