Financial confidence falling, research says
Research from Axa has revealed that 40% of consumers have made significant spending cutbacks since the end of last year with financial confidence continuing to fall.
The 'Big Money Index' research, carried out for Axa by YouGov, found that those feeling financially confident dropped from 23% to 16% in the year between the first quarters of 2010 and 2011.
Insurance cover remained high across all groups although a small number of consumers said they would be prepared to take a few risks.
A total of 8% of the near 2,000 respondents agreed that they would be happy to scrimp on insurance and take the risk of being uninsured in order to cut costs.
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