North west worst hit by recession

| July 14, 2009 | 1 Comment
North west worst hit by recession

Brits living in north west England have been hardest hit by the recession, new research has discovered.

Seven in ten households in the north west have significantly changed their lifestyles since the recession.

This is compared to a national average of 64%.

Two thirds (66%) of those in the north west have reined in their spending and become more conscious of their outgoings, while nearly a third (32%) are saving up to make big purchases rather than using credit.

A quarter (26%) of those in the region are making an effort to save more.

Yorkshire Bank, who conducted the research, said a change in people’s attitude to money was “inevitable” with the onset of recession.

“People are now adopting a more prudent approach to money and this is a positive change,” said Gary Lumby, Yorkshire Bank’s head of retail banking.

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  1. Judith Moore says:

    There are the few lucky ones who have been made redundant from a decent organisation and have had a good enough payout to clear their debts.

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