Recession puts life on hold for Brits

| December 18, 2008 | 0 Comments

With the credit crunch biting hard, the majority of British adults have put major life decisions on hold.

Research by reveals that 75% of Brits are stalling key life plans, including moving house and having a baby, because they fear the worst for the oncoming recession.

In addition, more than half (55%) of adults feel anxious about reaching their life goals, mainly because of worries over affordability.

Fifty percent are putting off buying a car, 30% are holding back from buying a property, and over a quarter (27%) are cancelling plans to change jobs.

With younger people, the economy is causing them to think twice before starting a family.

Almost a quarter (23%) of 25-34 year olds said the economic climate has put them off trying for a baby during 2009.

Meanwhile, 21% of 18-24 year olds said their wedding plans had been put on hold because of the credit crunch.

In Nationwide’s November Consumer Confidence Index, 45% of adults said they believe the economy will be worse in six months time.

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