Up to 12 per cent of shoppers are looking for new credit cards that has zero per cent interest or are considering moving banks and replacing their current accounts.
A further 20 per cent of consumers have looked into changing who they pay their utility bills through. The Alliance and Leicester believes it is beneficial to consumers to adapt their financial arrangements to suit the current credit climate.

Emma Walkley, current account manager, said: "This will hopefully stand them in good stead should they see their disposable income affected over the forthcoming months," she adds.

Asda estimated that the disposable income of families was 3.2 per cent less this January than the same period last year.