Cost-of-living crisis is taking a BITE out of fast food: Poll reveals 40% of Britons are already cutting back on takeaways and eating out due to rising energy bills
- Brits asked what specific goods or services they have had to cut back on
- In survey, 96% said they’re cutting back on at least one thing to protect finances
- Just one in 25 people are able to avoid altering their lifestyle in order to cope
- Millennials are generation most affected by cost-of-living crisis, reveals research
Eating out and takeaway meals are top of the list of expensive treats that Britons are cutting back on as the cost-of-living crisis hits, according to a new report.
The two topped the list when Brits were asked what specific goods or services they have had to, or plan to, cut back on to protect their finances.
A huge 41 per cent responded that they are eating out less, while 40 per cent said they are having to reduce takeaways.
The latest research from finder.com laid bare the impact of the cost-of-living crisis on consumers.
The nationally representative survey revealed a staggering 96 per cent of people in the UK are cutting back on at least one thing in order to protect their finances.
Eating out is top of the list of expensive treats that Britons are cutting back on as the cost-of-living crisis hits, revealed a new report yesterday
A huge 40 per cent of Brits surveyed said they are having to reduce takeaways to protect their finances
The latest research from finder.com laid bare the impact of the cost-of-living crisis on consumers
This means just one in 25 people are able to avoid altering their lifestyle in order to cope with things such as rampant inflation, including soaring energy bills.
According to the research, millennials (aged 24 to 42) are the generation most affected by the cost-of-living crisis, with 98 per cent having to reduce at least one thing.
The silent generation (aged 74+) are the best-prepared generation for the current squeeze on finances, although the majority (87 per cent) are still having to alter their lifestyle.
As two food-related treats are the most common things that Brits are giving up, home cooking is set to rise. However, even this is taking a hit, as almost 1 in 6 (17 per cent) said they will need to give up higher quality food from supermarkets and go for basic ingredients instead.
Boozing at home may also be impacted, with 9 per cent reporting they will cut back on alcohol subscriptions.
Buying items like clothes and appliances will see the third biggest hit (31 per cent), while over a quarter (26 per cent) will cut back on foreign trips and 15 per cent will do the same with domestic trips.
Worryingly, millions of Brits are leaving themselves at risk of huge medical bills abroad, as 6 per cent are planning to stop getting travel insurance.
There will be further effects from these cutbacks in the shape of lower charity donations. 1 in 7 (14 per cent) Brits say they will give less, or stop giving at all, to charity as they grapple with their own cost of living problems.
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