Car use 'cut back to allow for costs'

Many Brits might be struggling to keep on top of their outgoings as a result of the rising cost of living and may be looking to make cutbacks as a result.

One method of doing this could be to cut down on excess car use, which new research from Hastings Direct reveals 74 per cent of the population are already doing.

An estimated 49 per cent of respondents claim they drive at least 25 miles a week less than they usually would do and 32 per cent state they have cut back at least 50 miles.

Concerns with increased prices is the reason 78 per cent have stopped doing this and any measure an individual takes to stay in control of their finances could help to build a credit rating.

This is because bills might become be easier to pay on time, every time, which can demonstrate to a lender the person is a reliable borrower.

Posted by Tom Burroughs