Celebratory summer leaves Brits counting their pennies

21 August 2012

Posted by Kim Bardsley

This summer may have been one like no other thanks to the Olympic Games and the Queen's Diamond Jubilee, but the cost of the celebrations could be hitting Britons hard now they are over.

According to a survey carried out by MoneySupermarket. 38 per cent of families have had their finances impacted by this summer's festivities, with 58 per cent of them spending more than they had intended.

Although a quarter had no regrets and 18 per cent used their credit card deliberately so they could pay off their debts later on, splashing the cash could mean many people have less money to spend on essentials like food and home heating oil as the year draws to a close.

They could also be wishing they were more like the prudent eight per cent who budgeted carefully for the celebrations.

This comes after a Family Action survey at the start of the school summer holidays found 54 per cent of families would be cutting back on day trips with their children to save money.

Anyone feeling the pinch is advised to draw up a monthly budget, use money-saving offers and take advantage of things like BoilerJuice's Buying Weekends and Monthly Saving Scheme.

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