20 February 2012

Brits adjust priorities in times of financial crisis

Activities that help Brits indulge in life's little pleasures have been put on the back-burner as a result of the economic crisis.

Activities that help Brits indulge in life's little pleasures such as taking a holiday or staying healthy have been put on the back-burner as a result of the economic crisis.

The third annual Priorities of Life Index research, produced by Scottish Widows, has shown that one out of ten Brits are struggling to class their own ‘enjoyment and leisure' as a priority due to the UK's current financial turmoil. In comparison to previous years, people now have less time available to spend on their health, wealth and other forms of personal happiness such as holidays.

Data shows that 45% of Brits feel that they are not ‘enjoying themselves as much as they'd like'. This life priority is closely followed by another important goal which is being brushed aside – keeping fit. 44% of people are not able to exercise as much as they would like, while a further 39% of people are concerned about not taking enough care of their general health.

The index also revealed that 38% of people admit that their financial security priority levels are below an ideal level. 33% of British people feel their lack of financial security is due to being stuck in ‘under-paid jobs', a further 21% of Brits consider their debt levels to be too high for them to be deemed financially secure.

Cheaper ways of enjoying life

When money is tight, the best way of getting more for less is comparing the current deals available on the market to get the price possible. This is particularly important when looking for bargain leisure activities – such as cut-price holidays – during the recession. Keeping a tighter reign on household budgets will also help to cut costs.

In order to secure the best deals, holidaymakers should compare travel insurance and car-hire offers in advance. Car hire insurance, for instance, is almost always cheaper through price comparison sites than buying from any car hire rental company or broker.