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According to a new study, Britons are planning to control their spending because of the increasing cost of living.

Research carried out by the Norwich and Peterborough Building Society reveals that with the rise in inflation, many people have decided to balance their money management in order to cut down their spending. To start with they have slashed down the expenditure on eating outside. As per the report, around 45% people dine in restaurants at a frequent number of times whereas 14% people have quit taking meal outside.

Meanwhile, half of the women are spending less money on shopping and as reported 41% of men also doing the same.

It was reported that a large number of people are spending more on food, utilities and fuel. In recent months 59% of the Britons have experienced an increase in monetary commitments without depending on children claim.

According to a financial services firm that about 27% of the surveyed claim to introduce a household budgeting plan. Meanwhile, 16% are looking for a job to add on their income. On the other side, 37% are yet to find the way to manage their money.

Norwich and Peterborough revealed that like last year 44% of people plan to go away on holiday just often. Over 36% of people are presently dining out as many times as they were around this time in 2007.

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