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Is It Time To Tighten Your Belt?

As the UK economy continues to slow and more job loses seem to be announced each day, we seem to be approaching the time when the UK population will need to save as much money as they can. Too many in the UK are continuing to live the lifestyle they had last year, using their savings to mask what has become an untenable situation. So what can they do to cut back on spending?

If the more recent trend in the high street is anything to go by it seems as though more people than ever before are buying online, looking for bargains and better value for money. Sites such as EBay have reported an increase in customer activity at a time when literally every penny counts. However, many people are still missing the point and still continue to rack up debt on their credit cards, hoping that the economy will pick up soon and help reduce their debts in due course.

Put bluntly, now is the time to start saving money, not spending, cutting back on social and leisure activities, possibly down grading the quality and amount of goods which people are buying and being very frugal. There are massive savings to be had for those willing to feel a little pain in the short term, but persuading people to take this route is proving very difficult.

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