Disposable cash is dwindling, say consumers

Some consumers have stated in a new poll that the amount of disposable income to which they have access will dwindle in the near future.

According to the survey by Alliance & Leicester Current Accounts, 34 per cent of Britons believe they will have less money to spend on luxury goods in the coming year and 79 per cent of respondents said this was due to the rise in fuel bills and food price hikes.

To combat this trend, 12 per cent said they have already switched their credit card provider, while seven per cent have consolidated what they owe by taking out a personal loan, the bank found.

“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,” current account manager at Alliance & Leicester Emma Walkley advised.

Yesterday, the Co-operative Bank Credit Cards division revealed that Brits splurge the biggest amount of money on Saturdays.

© Adfero Ltd

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