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Gocompare: Half of UK consumers fear for their finances
22/07/2008 17:34:00
New research has shown that 49 per cent of Brits are concerned about their financial outlook for the next 12 months.
The study from Gocompare.com revealed that top of people's priorities was bringing under control outgoings and reducing costs on loans and credit cards, with 60 per cent saying this area was the most important in their monthly finances.
Hayley Parsons, chief executive of the insurance comparison website, said: "This research shows just how worried UK consumers are about rising prices and their personal finances. It's never been more important to save money wherever you can."
Almost two-thirds of younger people aged between 16 and 24-years-old feel most threatened by the current economic downturn, compared to 39 per cent of the over 55s.
Where most people are concerned about reducing costs, only 19 per cent rated savings as their biggest financial priority over the next year.
Sainsburys Finance recently warned consumers to check the terms and conditions on savings accounts.
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