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More consumers ' should change their spending habits'

More consumers ' should change their spending habits'

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More people may want to consider making changes to their lifestyle following the recent economic problems, one finance expert has stated.

Director at Fairinvestment.co.uk David Doulton made the comments following the release of a poll by his company that revealed only 26 per cent of consumers are to make changes to their spending habits.

"I am surprised by the percentage of people who do not intend to make any changes," he said.

Mr Doulton remarked that the other 74 per cent of respondents may still be enjoying a fixed-rate mortgage.

"As we have seen over the past few weeks, the housing market has, so far, been the worst hit by the credit crisis," he commented.

According to the results of the Fairinvestment poll, overall, consumers are trying to avoid getting into more debt, Mr Doulton added.

Mortgage holders may be affected by the next interest rate decision, which will be announced later this week.

Your home may be repossessed if you do not keep up repayments on your mortgage.

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