Discount Building Products - Building Material Wholesalers

Norwich and Peterborough Building Society Customers Riding Out The Credit Crunch

PETERBOROUGH, England (Business Wire EON) August 4, 2008 -- Many people have cut down on holidays, meals out and clothes shopping, but few have stopped enjoying life's luxuries altogether.

40% of those polled revealed they were considering taking fewer holidays in the wake of rising costs and 13% of people taking part in the survey would not be holidaying at all. However 44% said they were still planning to go on holiday just as much as they were a year ago.

When it comes to eating out, 14% of people had decided to stop spending in restaurants altogether, while 45% of people taking part in the survey said they had made the decision to afford fewer meals out. However, 36% of people in the poll said they were still eating out as much as they did 12 months ago.

Spending on luxuries such as clothes and shoes was also highlighted in the poll as an area where people were trying to cut down. Although noticeably it was the women who said they were not making so many purchases and the men who were still splashing out!

51% of women polled had tried to cut down on the amount of clothes and shoes they bought, compared to 40% of men, while 9% of women and 11% of men had stopped buying clothes altogether. Some 48% of men who took part in the survey said they were still spending on clothes as much as ever before, while only 36% of women said the same.

The N&P survey revealed that families are feeling the effects of soaring food and fuel prices the most, as almost 75% of people with children said they were spending more on gas, electricity, petrol/diesel and supermarket shopping. This is compared with 59% of people without dependent children.

But it seems that spending more on necessities has so far not affected people's ability to save money. While the survey revealed that only just over 8% of people polled were managing to save more this year than last year, it also found that nearly 40% were still able to put away as much money as they did 12 months ago and a further 30% were saving cash, although it was less than in previous years. 22% were not managing to save at all.

Just one quarter of those respondents who have a credit card said they were using it more this year in order to make ends meet, while just under 50% said their credit card spending has remained the same. The remaining quarter in the poll were taking steps to flex their plastic less often in the current climate.

Some respondents had tried other methods to manage their money better. For example, 27% of those taking part in the survey said they had started a household budgeting plan and 16% had resorted to finding extra work to boost their income. Over 37% said they had not made any changes to the way they looked after their money at all.

Norwich and Peterborough Building Society group product manager Gary Lacey said: "It is interesting that a large proportion of those who took part in our survey don't appear to be taking drastic measures with their finances just yet. However our figures do reveal that families are being affected more than most by rising costs.

"For those families with spare cash to save, an N&P Family Savings Account could help them afford those luxuries in life, such as a holiday or Christmas, or just a rainy day.

"Our range of Family Accounts, which include a children's saving account, an easy access option and a regular savings account, have been designed to help families make the most of their money. They offer a great rate with easy access, and can be opened with as little as £1. Combined with our wider range of accounts, including Individual Savings Accounts (ISAs) and both branch-based and an online savings account, we are confident there is something to suit everyone."

Caption: Norwich and Peterborough Building Society group product manager Gary Lacey.

Notes to editors

For more information call Mandy Ward, communications officer, on 01733 372010, or Alison Rolls, head of communications, on 01733 372074. The N&P survey was conducted in its branches across East Anglia and Lincolnshire between June 31st and July 11th 2008. For more information about Norwich and Peterborough Building Society, customers can call into any branch, visit www.npbs.co.uk or telephone 0845 3002511. In February N&P launched accounts specifically aimed at families ? the Family Easy Access Account, Family Regular Saver and Family Young Saver Account and the Family Five Year Bond Account. Information on these products is available at www.familieslovenpbs.co.uk

MORE ARTICLES:

Free eBook Reveals Construction Loan Trade Secrets that Can Save New Home Owners-Builders Thousands
A construction loan industry veteran with decades of experience has published a free e-book entitled "15 Things You Should Know before You Even Think about Applying for a Construction Loan." The insightful report reveals construction loan inside secrets that can help people save thousands of dollars.

Leopardo Construction Highlights 10 Solutions for Building Smarter, Offsetting Rising Construction Material Prices
In a recent white paper titled "Smart Construction," Leopardo Construction, one of the nation's premier construction companies and a recognized leader in sustainable building practices, highlights 10 economical building solutions for offsetting the skyrocketing material prices and realigning construction budgets with original expectations.

Selecting A New Home Construction Builder Or A Remodeling Contractor
The whole point of having a new home construction builder or remodeling contractor is to ensure that you have a quality job done. To accomplish this, you need to know how to look for the right people. By knowing how to find the right people, you will have less problems and stress during the project.

New Construction Strategies Radio Network and the Contractors Side Launch New Channel for 75,000 Contractors
New Construction Strategies Radio Network (NCSR), a joint venture of Garrison Associates and Jackstreet Media, reached agreement with The Contractors Side to make NCSR programming available to its community of 75,000 construction contractors and subcontractors. The ContractorsSide.com is a popular resource to help contractors protect and defend themselves against some of the traditional risks in the construction business. The new channel will bring contractors the knowledge and insights they need anticipate and avoid many of the problems that often lead to large financial losses.

Luxury Home Builders McCrary Homes Announce Return to Austin, Texas Area Building
After a twenty year absence, McCrary Homes announces a return to Austin, Texas area home building. These new high-end homes feature the latest designs and innovative technology, classic luxury homes for the future.

Corrugated Metal Roofing, Residential, Design, Restoration, Contractors, Guide, Repairs
Corrugated metal roofing is rippled metal sheets used for roofing applications. It is commonly used in commercial, agricultural and industrial purposes though nowadays it is recognized as an excellent form of residential roofing. Corrugated metal roofing has been in use since the 1840s. Through technological developments, it is rust free and has other attributes that has enhanced its qualities.

Nationwide Custom Homes Designs and Builds Home for International Builders Show in Orlando
Designed specifically to meet the needs of the "Successful Baby Boomer", the Nationwide Custom Home impeccably blends traditional craftsman styling with the latest technological conveniences available from premier suppliers. The home is on display at the International Builders Show in Orlando, Fl. February 7th-10th Contact: Scott Rouleau for Photos and Information: 502-836-4513

HandCrafted Homes and Builder-Partner Announce New Model Homes to be Built in Conway, SC
HandCrafted Homes, an award-winning custom modular homebuilder based in Henderson, N.C., has partnered with Coastal Land Construction to build two model homes in Conway, S.C., to be completed by mid-October, 2006, as part of the new Country Manor Estates community.

The Most Popular Contractors and Construction Supply Shops in the USA
There are many choices in purchasing the best construction supplies Choosing the best dealers or sellers is among the most important steps to acquire construction supplies with the highest quality

Electrical Innovations Receives Prestigious Construction Award from Associated Builders and Contractors of Iowa
Recognized as best-of-the-best with excellence in specialty construction.

The Pit-Falls of Owner/Builder Contractor Experience
You?re young and strong and have the financial means to build your own house. You have a truckload full of tools and some experience with a hammer, so you think, ?hey, I?m going to build my own house and be my own Contractor.?

Florida Custom Home Builders: How To Build Your Dream Home
Florida custom home builders offer many homeowners the chance of a lifetime: the opportunity to build their dream home Of course, like any investment on this large a scale, it is necessary to take certain steps to make sure you do it right, and to make sure the end result is really the dream home you set out to get

Home Depot Home Improvement Stores
Information about different Home Depot home improvement ideas as well as equipment is readily available on the internet For example, there are many websites that list several Home Depot home improvement stores

Home Builders See Big Picture in Sustainable Building, Says February's BUILDER Magazine
The housing market's decline has not clouded the big picture for some home builders, February's BUILDER Magazine reveals in its coverage of sustainable building products and its Tradewinds show home at the International Builders' Show.

Dallas Home builders- A Community Doing More Than Just Building Homes
If you are looking to buy your dream home, you may like to visit the website of a large number of home builders, all aspiring to provide you the best of services. The quality of construction, neighborhood and affordability are three parameters which you may need to consider while choosing a particular home builder in your locality.