Consumers believe ‘disposable cash will dwindle’
Just over a third (34 per cent) of Britons have stated in a new poll that they will have less disposable cash in the future.
Conducted by Alliance & Leicester Current Accounts, 79 per cent of these consumers blamed the rise in the cost of living as the reason for less disposable income, as energy bills and food prices continue to rise.
Some people have already taken action to try to control their finances, the survey showed, with 12 per cent opting to switch their credit card provider.
And seven per cent have consolidated their debts into a personal loan, the bank discovered.
Emma Walkley, current account manager at Alliance & Leicester, advise people to continue to address their outgoings in the current economic climate.
"Taking advantage of the best financial deals on the market is always important, but more so in the current environment. We would advise people to take a good look at their finances and see how they can be improved," she said.
Last week, Fool.co.uk revealed that one in ten people are considering using credit to pay for their dream wedding.
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