New research from VoucherCodes.co.uk* reveals nearly half of retirees in the UK worry about their day to day finances, with 44 per cent claiming they have to count the pennies and budget just to get through the month.
The report revealed Scotland is home to the most budget-bound retirees with over half (53 per cent) worried about how much they are having to cut back. Retirees in the South East are the least impacted by the economic slump, with just a third (34 per cent) concerned about their finances.
In order to manage their outgoing as best they can, nearly half of retirees (47 per cent) say they are making cutbacks in some way. Over a quarter (28 per cent) have been reducing their spending on purchases for themselves to get through the month, whilst nearly one in five (19 per cent) say they have also been cutting back on their weekly food shop. A further one in five savvy retirees have been turning to voucher codes and discounts to save money on their purchases.
How UK retirees have been trying to save money:
Duncan Jennings, co-founder of VoucherCodes.co.uk comments: “Retirement can be a difficult adjustment period for many people who are accustomed to the way of living their salary accommodates. Our report indicates that most retirees have found they really need to budget and watch the pennies, with many cutting back on purchases and even food shopping just to get by.
“The economic downturn has affected most people in some way, and many are looking for any means to cut costs, especially on basics. It is reassuring to see that many retirees have already realised they can save money and shop smarter by using online voucher codes.
“By browsing online, shoppers will find discounts on a huge variety of items, ranging from supermarkets to holidays. It only takes a few minutes for anyone to make easy savings on their purchases, which end up making a difference.”
Notes to editors:
* Research of 600 UK retirees over the ages of 65 years was carried out by One Poll between 26th March and 4th April.