By Sarah Getty
Seven in 10 households say the cost-of-living crisis has led to them embracing thrifty lifestyle hacks including fakeaways, navigating energy tariffs and saving up for a trip to the pub.
Three-quarters (76%) say reducing spending is their top priority this year and 70% are making small changes to everyday habits to make their funds go further such as renovating instead of moving home, batch cooking and using vouchers or discount codes.
Two-thirds (66%) consider themselves financially savvy and almost half (45%) feel more on top of their finances than they did last year.
Of 2,000 adults polled by leading energy provider E.ON Next, 37% said they are eating out less, 62% said they now save up for a holiday rather than pay for it on plastic and almost a quarter (24%) even set aside money for a trip to the pub or a treat for their pets. One in five (21%) have brushed up on their DIY skills and 39% have invested in home renovations.
Six-in-10 contribute to an emergency ‘rainy day’ fund and 72% say they have done enough research to make sure they get the best energy deal – although 25% admitted they would rather a visit to the GP or dentist (23%) than sit down and review their finances.
With almost half (47%) of households looking for energy tariffs that help them save money and a third (37%) seeking clear information on tariff rates, E.ON Next’s pioneering Next Pledge tariff offers customers a guarantee their prices will remain £50 below the energy price cap.
(Image: Hayley C / EON / Cover Images)
Since August 2023, almost 350,000 customers have signed up and are collectively expected to save £17 million compared to the industry-wide price cap, having already saved as much as £10 million since the tariff was launched.
TV presenter and renowned personal and financial consumer expert, Sue Hayward, said: "The findings are heartening; they reflect a nation that's not only keen on keeping a tight rein on their finances but also on finding rewards in the process.
"A large percentage of Brits are seeking out tariffs that support their thrifty lifestyle and taking charge of their energy consumption. This proactive approach to saving demonstrates a commendable level of financial savviness."
(Image: Hayley C / EON / Cover Images)
E.ON Next is bringing an interactive experience to London to highlight and celebrate its Next Pledge tariff, which guarantees customers the peace of mind that their energy prices will stay £50 below Ofgem’s energy price cap.
To showcase how ‘life’s better under the cap’, the experience will feature an assortment of activities, from free slushies, ice creams and Pick’n’Mix sweets, to music, free giveaways and photo opportunities, with E.ON Next’s vibrant characters drawing visitors in to the giant, eye-catching 10-metre cap-shaped dome.
Julian Lennertz at E.ON Next said: "Our research shows that many people across the UK are now more confident about managing their everyday finances and they’re making more informed decisions about where to spend money and where they can save."
The experience will be held at Observation Point in the heart of London’s South Bank on Wednesday 19th and Thursday 20th June, from 10am - 6pm · For more information visit eonnext.com/next-pledge
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here