Recession puts life on hold for Brits

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

Research by CreditExpert.co.uk 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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