It seems that while more people are recognising the importance of saving for the future, a significant number are struggling to stop spending. Research conducted by Bradford and Bingley suggests that once Brits get hooked on shopping they find it hard to give up, despite the fact that many want to turn over a new leaf and act more frugally.

In a study conducted by the bank, 27 per cent said they would class themselves as reformed spenders now wanting to save. The majority of those who had undergone this transformation were prompted to do so by necessity - a lack of cash and debt had forced them to do so. A further 43 per cent said they were influenced by the fact that they wanted to be able to afford expensive products in the future - such as a house or a car - and needed to save in order to do so. Ten per cent more said their lifestyle change was down to warnings about the state of the economy.

However, 25 per cent of respondents said that, although aware of the benefits of saving, spending freely was part of their life and it would continue to be so. This offset, though, by the 30 per cent of those surveyed who said they had been committed savers from the word go. This means that, of the people in Britain who try to live within their means, over half are able to successfully balance their budget and 40 per cent only occasionally overspend. It has therefore been suggested that, although it has not yet been eradicated, Britain's spend now, pay later culture is slowly being eroded.

Of the people attempting to change their ways, 25 to 41-year olds are making the biggest effort, Bradford and Bingley found. Analysis carried out by Your Money Matters suggest they could make even more of an impact if they cut down on the amount spent on their lunches when at work. According to Your Money Matters, a programme which aims to improve the skills, confidence and financial situation of older people by providing basic money management and debt advice, workers spend an average of £4.40 a day - or £1,050 a year - on shop-bought lunches. Just by making a packed lunch Brits could make significant savings and, if this money was put into an e-savings account, that new home or new car could be bought all the more sooner.

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