The ad is the next instalment in the company’s MoneySuperSeven campaign. It comes as new research by MoneySuperMarket highlights the challenge household finances are facing in the cost-of-living crisis. Key findings reveal that:
Nearly three quarters of Brits (72%) are worried about their household finances
Of these, one quarter (24%) report that they cannot cope with the cost of living increases they’ve already experienced
48% say while they can cope now, further increases would be worrying
18 to 24 year olds (44%) are the most likely to say they cannot cope with the existing increases in the cost of living.
Looking at the picture nationally, the Northern Irish (49%) are the most likely to say they cannot cope with the cost of living increases that have already happened, compared to 16% in the South West. Nearly one quarter (23%) of Londoners say they cannot cope.
One fifth of Brits say they have taken money out of their savings, and 1 in 10 report spending more on credit cards to try to manage their household finances.
To further support households, MoneySuperMarket is launching, Mission £1 Billion, a bold, collective effort to help Britain compare and save £1 billion on household bills. New MoneySuperMarket research found that:
42% of Brits have reduced their energy usage
36% are spending less eating and drinking out, whilst one third are buying fewer clothes
Nearly one third of Brits (32%) plan to shop around for better deals on broadband, mobile phone, home, or car insurance this year as they try to manage their household finances
Significant numbers of Brits are surprised by the savings that could be made by shopping around for better deals on car insurance, home insurance, broadband and credit cards:
60% of Brits said that the potential saving on car insurance (up to £320.70*) was more than they thought
51% said the savings that could be made on home insurance (up to £144.02*) was more than they thought
57% said the savings that could be made on their broadband (up to £185.64**) was more than they thought
44% said the saving that could be made their credit card (up to £313.62***) was more than they thought