Many Welsh consumers 'looking to reduce outgoings' ahead of Budget

A number of Welsh consumers are aiming to review their current budgets in order to see where they can lower their outgoings, new research has suggested, which might help those who are in credit card debt.

Principality Building Society has revealed that half of those polled in a survey are aiming to lower the amount they spend.

Clothing is one thing that people want to cut back on, with 32 per cent saying this is an area they will focus on.

The firm's chief operating officer, Graeme Yorston, stated that the intentions of the government's forthcoming emergency Budget are being mirrored by many people in Wales.

He stated: "The overarching aim of the emergency Budget is to shift the focus of the country from debt to saving and it's encouraging to see that the Welsh public have already adopted this mindset."

Budgeting is something that young parents in particular might benefit from, David Rodger, managing director of the Debt Advice Foundation, recently suggested.

Posted by Gemma Walker.