With unpredictable energy prices and rising interest rates, new reports [1] confirm the UK is on the brink of its longest ever recession, but is the public prepared for the effect this could have on them?
Experts at Zuto Car Finance have surveyed Brits [2] to determine if, and how, people have prepped for the recession, and have offered their expert guidance on how they can recession proof their finances.
How have Brits prepared for a recession?
Although a percentage of people are taking positive steps to become recession-proof, others are having to make sacrifices for financial stability.
The majority of people (54%) are living within their means to prepare for a recession, and 47% have tried to reduce any outgoings. Others (11%) however have taken up an extra job and 12% admit they haven’t financially prepared.
How have current financial instabilities affected people?
Many people are taking drastic measures to ensure financial stability.
As we enter the winter season, 43% of Brits are not putting their heating on, and a further 30% are sacrificing their Christmas to save money. One in five (20%) are  even walking more to reduce petrol costs.
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