Tuesday, October 27, 2009
Category:
Consolidation
According to research conducted by Aviva, 65 percent of people who have made lifestyle changes to combat the effects of the recession will revert back to life as it was.
This means that 40 million individuals are set to increase the amount of money that they spend on ‘at least one unhealthy activity’.
The research uncovered that 30 percent will dine out as opposed to cooking at home; 24 percent will take ‘beach holidays’ rather than holidaying in the UK; 21 percent will increase expenditure when it comes to socialising in pubs and bars; 15 percent will spend more on takeaways; and 15 percent will go out for lunch as opposed to making it at home.
In relation to meals, it was found that 18 percent have been eating more healthily since the recession struck. The most widely adopted approach, taken by 52 percent, has been to prepare home cooked meals instead of relying on takeaways and restaurants.
Furthermore, the recession is thought to have resulted in increased levels of exercise among 17 percent. In fact, 21 percent are avoiding taxis or driving in favour of walking or cycling, and many are exercising for entertainment. For example, 26 percent are opting for free outdoor activities as opposed to visiting amusement parks; 21 percent are holidaying in Britain rather than venturing abroad; and 12 percent are choosing to exercise with their friends instead of joining a class.
The research also uncovered that 50 percent make lunch as opposed to going out for it; 20 percent grow their own vegetables instead of purchasing them; 19 percent are either losing weight or maintaining their current weight in order to avoid buying new clothes; and 2 percent are keeping chickens as a source of eggs.
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Homeowners who would like to reorganise their finances in the current economic climate, could consider a debt consolidation loan. One of many finance options available, a debt
consolidation loan could allow the borrower to tie up any existing debts, such as personal loans and credit cards. In taking this approach the borrower could eliminate multiple monthly repayments, replacing them with a single monthly repayment. This new monthly repayment could even be less than current outgoings. However, when taking out a debt consolidation loan, it must be remembered that consolidating your debt may increase the amount you pay back overall and extend the repayment periods of your debts.
