Almost a third of Brits stop buying clothes and cut out pub visits as cost-of-living crisis cripples country
Many Brits are choosing not to buy clothes as they cut out visits to pubs and restaurants amid the cost-of-living crisis, a survey finds
A survey finds that people at the poorer end of the ladder are "more extremely affected" by the cost-of-living crisis.
Across the nation, almost 40 percent of people have stopped buying takeaways, one third have stopped going to pubs and restaurants altogether, while one in five (19 percent) have admitted to skipping meals.
36 percent have turned off their heating altogether and 13 percent have cancelled holidays to save money.
And only one in five people in the UK believe they will be able to afford their gas and electricity bills when the energy price cap rises to an average £2,500 per household in October.
The study, commissioned by investment platform Saxo Markets, has found the lowest earners across the country are feeling the increase in the cost of living the most.
Of the bottom earning bracket – £15,000-a-year or below – 29 percent admitted to being “extremely affected” by rising energy prices, compared to just nine percent of people earning over £55,000-a-year.
The survey of 2,013 participants asked what measures people have been taking to combat increasing costs.
Six percent of people admitted to cutting out showering, alongside 13 percent saying they had cancelled holidays.
Elsewhere, 44 percent said that the cost of living crisis would affect the way they voted in the next general election.
Anaam Raza, of investment platform Saxo Markets, said: “The cost-of-living crisis is gripping the UK as almost all aspects of life are increasing in price, forcing millions of people to rethink their finances.
“With wholesale oil and gas prices remaining high, October’s increasing energy cap will hit people even harder – and, as the results of our survey show, those at the lower end of the ladder will likely feel the effects the most.
“Only one in five people have admitted that they will be able to pay this significant increase in energy costs – with the remaining 80 percent unsure or unable to pay their regular bills.
“The sacrifices being made to battle the cost-of-living have also come to light with a large proportion of the nation abandoning takeaways and nights out to save money.
“While in some more serious circumstances, people are now giving up showering, skipping meals and even selling their belongings to make ends meet.”