Savvy savers: Four in five Brits now consider themselves thrifty

• Three quarters (76%) of Brits say saving money is a top priority for them this year¹
• 45% say their spending has decreased in the last few years, with 70% of Brits implementing small everyday hacks to help cut back on their expenses²
• E.ON Next launches ‘The Next Pledge Experience’ experience to help highlight its E.ON Next Pledge tariff, which guarantees customers’ prices will stay £50 below Ofgem’s energy price cap

A recent study¹ commissioned by E.ON Next, one of the UK’s leading energy and sustainable solutions providers, has unveiled two-thirds (66%) of Brits now consider themselves financially savvy, particularly when it comes to saving money on their household expenditure and bills, whilst a further 80% are embracing the thrifty lifestyle². 

The research highlights a positive shift in the public’s attitudes towards managing their personal finances, with almost half (45%) of Brits claiming they feel more optimistic about their ability to handle their finances compared to last year. Three-quarters (76%) say saving money is a top priority for them this year, with 72% stating they know how to save energy to reduce their energy bills.

With almost half (47%) of British people looking for energy tariffs that help them save money and a third (37%) seeking clear information on tariff rates, E.ON Next’s pioneering Next Pledge tariff offers customers a guarantee their prices will remain £50 below the energy price cap³. Since August 2023, almost 350,000 customers have signed up to the E.ON Next Pledge tariff and are collectively expected to save £17 million compared to the industry-wide price cap, having already saved as much as £10 million since the tariff was launched⁴.

Whether it is setting aside funds for well-deserved holidays (62%), creating an emergency fund (61%), investing in home renovations (39%), or saving up for trips to the pub (24%), Brits are serious about making the most out of their money. Even the nation's pets are in for a treat, with almost a quarter of pet owners (24%) saving up to treat their furry companions.

The study also uncovers the resourceful ways Brits are stretching their budgets, including cooking more meals at home (37%) and using coupons and discount codes (33%). Being smarter when using energy (32%), batch cooking (22%)¹ and even DIY haircuts (19%)² are also part of the mix, as Brits focus on changing everyday habits to help deliver significant savings. 

Julian Lennertz, Chief Commercial Officer at E.ON Next said: "Our research shows that many people across the UK are now more confident about managing their everyday finances and they’re making more informed decisions about where to spend money and where they can save.

“At E.ON Next, we're proud to support this financially-savvy spirit with our pioneering E.ON Next Pledge tariff, which hundreds of thousands of our customers are already benefiting from. Through innovative tariffs like Pledge, which can help customers save money and offer peace of mind, we’re acting as a playmaker and ensuring we’re creating real change in the energy world."

Although many Brits may want to cut back on their expenses, taking the time to sort their own finances is still daunting for a significant number of people. Around a third would sooner do the dishes (31%) or brave the weekly shop (36%) than take time to sort their finances, and some would even choose a dental check-up (23%) or a doctor's visit (25%) over reviewing their own finances. 

To further inspire the nation's thrifty efforts, E.ON Next has enlisted renowned personal and financial consumer expert, Sue Hayward, who said: "The findings from E.ON Next's research are heartening; they reflect a nation that's not only keen on keeping a tight rein on their finances but also on finding rewards in the process.

"A large percentage of Brits are seeking out tariffs that support their thrifty lifestyle and taking charge of their energy consumption. This proactive approach to saving demonstrates a commendable level of financial savviness and a collective commitment to a more cost-effective future."

Notes to editors

1.  Research carried out on behalf of E.ON Next by Opinion Matters in June 2024, surveying 2,000 UK adults aged 18+ years old. 

2.  Additional research carried out on behalf of E.ON Next by Opinion Matters in June 2024, surveying 2,000 UK adults aged 18+ years old.

3. Next Pledge is priced £50 below the price cap at average annual consumption of 11,500 kWh for gas and 2,700 kWh for electricity. It is currently priced at £1,640 and will fall to £1,518 on 1st July. The price is based on average annual dual fuel use and will differ according to consumption. Customers need to pay by Direct Debit and agree to have a smart installed where eligible. 

4. E.ON Next customers on track to save an extra £17m

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