Frugal budgeting 'a 2011 trend'
Britons are aiming to keep their costs low this year, with many carrying a "recessionary mindset" into 2011.
This is according to new research by insurance provider Allianz, which found 70 per cent of people living in the country are hoping to slash expenditure.
One popular way in which households are expecting to cut their bills is lowering their entertainment budget, with 74 per cent claiming they will be spending less in this area, while 51 per cent picked changing providers for various services.
This followed recent statistics from Gocompare that showed 25 per cent of Brits had never switched companies when securing financial products.
Gareth McChesney, head of home and motor portfolio management at Allianz, said "difficult financial choices" could be ahead for many families.
"People will naturally prioritise what is important to them but there is a danger that by cutting in the wrong places Brits could be left even more at risk," he explained.
Use the myfinances.co.uk comparison site to keep your bills low.
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