Over 8 million adults cancel outgoings to combat rising cost of living

Industry News | 05/05/22

In research carried out by MetLife UK, over 8 million adults in the UK have already cancelled specific outgoings due to concerns of rising costs. A further 57% of people stated that they expect to cut costs in the future. The main areas of cut-back for these people included:

  • Everyday perks (eating out, coffee)- 40%
  • Luxury items (household, clothing)- 37%
  • Holidays/Day Trips- 34%
  • Entertainment subscriptions- 28%

Source: HRNews