A new survey reveals that nearly half of Which? members plan to cut their spending on at least one ‘extra’ such as eating out.
In our poll, 46% would spend less on at least one non-essential such as books, DVDs, CDs, clothes and entertainment.
While 9 per cent have cancelled plans to spend on audiovisual goods, 25% will delay their purchase, suggesting difficult times ahead for retailers.
However, most of the 1,900 members we surveyed this summer put quality before price; 54 per cent said that their choices aren’t based on price and a further 20 per cent opt for expensive white and audiovisual goods as they believe they’ll last longer.
As the credit crunch becomes a major worry for many, which.co.uk has looked at how to save thousands of pounds by cutting back on household spending.
Our latest report on cutting your household bills could save you more than £1,800, by, for example, switching your energy supplier, getting a package deal on your broadband and landline phone services, and switching mortgage and car insurance providers.
Jess Ross, editor of which.co.uk, said: ‘Difficult times call for extreme measures and it’s clear that some people won’t be splashing out on luxuries in the near future.
‘People still want quality, but it’s all about value for money.’