British consumers are changing their spending habits in a bid to prevent themselves from getting in to debt. According to a recent opinion poll conducted by Fairinvestment.co.uk the credit crisis is causing people to rethink their spending.

The poll found that 23% of participants said that they intend to cutback on luxuries, while 16% propose to sacrifice a holiday in order to make ends meet. 13% said they plan to switch energy provider and 4% will change their mobile phone contract. Only 3% of those questioned said they would increase their overdrafts and only 1% said they plan to get another credit card.

 “The small number of people who plan to get more credit just shows how the economy has changed. This time last year our results would have been very different because credit was easier to come by and seen by many as the easy way out,” comments David Doulton, Director at Fairinvestment.co.uk. “Overall though, our research shows that those who are finding that money is tighter are taking action as opposed to getting into debt. This is good news – without making sacrifices, many households will find themselves treading water, increased energy bills and mortgage rates make this inevitable for many during the credit crisis.”