How are British attitudes to income and budgeting changing?
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With tentative signs that the financial squeeze on households is easing, new data reveals that attitudes to income and budgeting in Britain are polarising between consumers who are struggling and consumers who are comfortable.
Using data from Profiles, YouGov has developed a framework to explore these themes by segmenting consumers into different categories based on attitudes towards present income and how well they manage their income.
Four types of consumers are emerging
Comfortable budgeters
This group are the least affected by the cost-of-living crisis and are coping well. They have a budget and often or always stick to it and retain a high level of financial literacy. Accounting for around 18 million people, this group is the least likely to worry about having enough money.
Comfortable overspenders
With around 13.5 million people, this group are also coping well financially, but they tend to overspend. Financial knowledge is the strongest out of any segment category, with a hi...
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