Budgeting is 'top priority' for Brits

Consumers in the UK have placed budgeting as their number one financial priority, according to new research.

A report carried out by Friends Provident has revealed that as the UK is feeling the effects of the global credit crunch, 41per cent of respondents plan to "economise" one third of people are planning a "complete overhaul" of their finances in order to find better deals.

James Ward, the director of marketing at Friends Provident, states that although 40 per cent of people are worried about their financial situation as a result of the credit crunch, the "trick is to harness this heightened awareness and to do something positive"

He advises consumers to budget and invest their money "in a way that makes it work smarter for [their] needs".

Friends Provident was founded in 1832 and offers a range of insurance products. These include critical illness cover and life insurance.

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