People across the country have been making cut backs over the last 12 months, and new research from specialist health insurer National Friendly reveals how people in Aberdeen have been saving their pennies in the recession.
Swapping organic for ordinary and cashmere for cotton is top of the list, with a phenomenal 92% of those surveyed in Aberdeen confirming they have changed their shopping habits – up significantly on the national average of 77%. It seems home-cooked meals are also back in favour as three quarters of people in the city have reduced the amount of takeaways and meals out that they consume.
It would appear the current climate has helped encourage a healthier lifestyle as more than a fifth (21%) of those questioned in Aberdeen stated they now walk or cycle to work to save money on petrol.
However, it seems the people of Aberdeen are missing a trick when it comes to comparing the market for the cost of utilities and financial services, as just 16% of people living in the city admitted they have changed their insurance / utility / mortgage provider in the last 12 months to get a better deal. Other Scottish cities’ residents seem to be savvier when it comes to saving, with a third of people in Edinburgh and 31% of those in Glasgow changing suppliers to save money.
With Christmas fast approaching, the research suggests many people in Aberdeen will be uttering the words ‘It’s the thought that counts’ on Christmas morning, as 16% said they have been making handmade gifts rather than buying presents this year. This is amongst the highest in the UK, with only 4% of people in Belfast and Leicester and 6% of those in Swansea being so creative.
Commenting on the research, National Friendly Chief Executive Richard Sear said: “We have seen an increase in sales this year as people have switched to our product to save money so it is interesting to see the other ways that people have been economising.
“The recession has made people more aware of the benefits of shopping around and not just taking the first option they see. I think this is something that will continue even after the recession is over. Companies will need to do even more to remain competitive as we will be left with a nation of people who are no longer happy to just accept what they have always known.”
National Friendly undertook the research to see how the recession has affected people and the ways in which they have looked to save money. National Friendly prides itself on offering a unique product range with true benefits for its customers and this research will enable the company to continue to develop its product offering to provide solutions that truly meet the needs of today’s customers.
The National Friendly Individual Healthcare Deposit Account is a unique product; half of a policyholder’s monthly premium goes towards running the scheme; the other half goes into their personal deposit account. This means that the policyholder is covered if they need to claim but benefits from having access to a percentage of their original premium if they don’t claim. The product also offers fixed premiums, which are set by the individual and are only increased if the policyholder wants to increase their level of benefits.