Brits bank on budgeting to see them through tougher times

The penny has finally dropped, as latest research from MINTEL shows that British consumers are starting to take their first tentative steps towards more responsible budgeting. 2008 has been a terrible year for the UK savings ratio (how much we save as a % of our earnings) which recently fell to its lowest level for nearly 50 years. But, last month 60% of adults said that they would now be looking to cut down on borrowing and/or increase the amount they save in the coming year, according to exclusive consumer research from Mintel. This is up from just 55% in 2007.