Brits are feeling the pinch as 94 per cent plan to cut household spending

A report into the cost of living crisis has found that 94 per cent of British people will be forced to make changes to their household financial management this winter. SellCell released a report on September 28, in which 3000 UK residents were asked about their spending to learn more about supporting people to save money.

The survey asked respondents to name measures they would take to save money finding that over 70 per cent would be reducing household heating or turning it off, 62 per cent will be reducing electricity use. Other spending measures were mentioned including cutting out social spending, stopping clothes shopping, stopping subscription services, and selling possessions including cars.

Almost a quarter of respondents said they were extremely worried about spending pressures at Christmas time with a huge 71 per cent saying they would cut Christmas spending this year.

The survey also found that almost 75 per cent of respondents did not feel the government is doing enough to support people through the cost of living crisis.

Investigators posed the same questions to US residents with similar results.