Households throughout the UK have had to tighten their belts as the cost of living crisis bites into family budgets. Some six out of 10 people have made changes to their lifestyle or finances already to cover the cost of essentials in the past month, according to Which?
Changes included cutting back on essentials, borrowing from family and friends, taking out loans or credit cards, dipping into savings or overdrafts, or selling items. The proportion of people making financial or lifestyle changes has increased from 54% in March and 35% in April 2021, as living costs surge.
Which? consumer rights expert Adam French said: “Our research shows how a relentless cost-of-living crisis is putting huge pressure on household finances – with six in 10 people saying they’ve had to adjust their finances to help make ends meet in the last month.”
