Nearly 30% Plan to Take More Financial Care in 2013

(PRWEB UK) 14 December 2012

The latest research* from Equifax, the leading instant online credit information provider, reveals that consumers are looking to take greater care managing their finances in 2013 with nearly 30% planning to save more and spend less.

Neil Munroe, External Affairs Director at Equifax believes that this is a positive sign which shows consumers want to start the New Year off in the best possible way. “It is great to see that people want to take more care managing their finances in 2013 and plan to save more. But to achieve this goal we think it’s crucial that they keep an eye on their monthly incomings and outgoings.

“It can be very easy to lose track of how much money is being spent when there are a number of different financial commitments from the rent or mortgage and credit cards to, maybe, a car finance loan or other debt. So if people want to plan to save more and spend less , they really need to monitor their financial activity.”

Over 20% of respondents to the Equifax survey said that their spending habits in 2013 would change to manage an increase in living costs. This follows an already challenging year with almost 1 in 5 (18.35%) saying they had 30% less disposable income in 2012 and nearly 65% saying they saw an increase in their monthly outgoings during the year.

“The current economic climate means that it is not always easy for people to save as much as they would like,” continues Neil Munroe. “We urge people to take some time to review their finances and make a realistic plan about how much they need to spend in the New Year.”

The Equifax research also provides a revealing insight into the ways in which consumers plan to cut back their spending in 2013. 40% plan to cut back on going out and activities such as eating out at restaurants and over 1 in 3 are planning to spend less on clothing.

How will you cut back on your spending in 2013?

Eating out less                                            40.00%

Spending less on household goods            33.15%

Spending less on going out                            41.65%

I will spend less on clothing                            35.40%

I will not cut back on my spending in 2013    22.75%

“Consumers can stay on top of their finances by getting a copy of their credit report which provides a comprehensive insight into their financial status and current credit agreements as well as enable them to understand what information will be taken into account when they apply for credit”, concluded Neil Munroe.

The Equifax Credit Report is accessible for 30 days free simply by logging onto our website. If customers do not cancel before the end of the 30 Day Free Trial, the service will continue at £8.99 per month, giving them unlimited online access to their credit information and weekly alerts on any changes to their credit file. It also includes an online dispute facility to help them correct any errors on their credit file simply and quickly.

The Equifax app is available free from the Apple iTunes Store on iPhone and iPad and from Google Play for Androids.

*Equifax One Poll Christmas Survey 2012 – 2000 respondents – November 2012

About Equifax

Equifax is a global leader in consumer, commercial and workforce information solutions, providing businesses of all sizes and consumers with information they can trust. We organize and assimilate data on more than 500 million consumers and 81 million businesses worldwide, and use advanced analytics and proprietary technology to create and deliver customized insights that enrich both the performance of businesses and the lives of consumers.

Headquartered in Atlanta, Equifax operates or has investments in 18 countries and is a member of Standard & Poor’s (S&P) 500® Index. .

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