Last update: Thu Aug 21 2008 11:54:01

Britons 'don't want' to give up luxuries

Britons are reducing their spending on essential items but are more reluctant to give up luxuries in a bid to cut their costs.

Around 52 per cent of people said they had started to buy supermarket own brand products in a bid to reduce their weekly shopping bill, while 14 per cent said they had started to grow their own vegetables to save money.

One in five people also said they were buying items ranging from clothing to cosmetics on internet auction sites such as eBay, while others were using the internet to find the best deals, according to a survey by bank Birmingham Midshires.

A further 12 per cent of people have also changed their gas or electricity provider to save money.

But while 36 per cent of people are eating out or going to the pub less to cut costs, just 9 per cent of those questioned were prepared to give up their gym membership.

Only 7 per cent of people also said they would give up smoking to save money, and just 5 per cent were prepared to go without cable or satellite television.

At the same time, just 4 per cent of those questioned have downgraded the size of their car, although 11 per cent said they were using public transport more because it was cheaper.

Tim Hague, director of savings and investments at Birmingham Midshires, said: "The effects of increasing bills are being felt right across the country and are inspiring people to make radical changes to the way they live their lives.

© Independent Television News Limited 2009. All rights reserved.

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