What would you sacrifice before your TV deal?

12 July 2012 16:57:25

Many would choose their TV deal over the beach.

Brits around the country have been tightening their belts in recent years and many have been looking for small ways to cut back on spending. But if money became really tight and you had to find extra cash from somewhere each month, how prepared would you be to cancel your TV subscription?

Majority see TV as a necessity
If you're like thousands of other households around the country, the chances are you'd try just about every other way to save money before reducing or cancelling your TV package. Research by Santander suggests that 61% of families subscribe to a monthly paid-for TV package, such as Sky or Virgin Media. When asked about their spending priorities, 75% of respondents admitted they would prioritise their TV package over many other luxuries, including holidays and going out.

Many outgoings sacrificed before TV
Santander's survey of 2,013 adults revealed that 47% of people would give up meals out before reducing the amount they spend on their TV subscription, while 30% would prefer to cut back on clothes and salon visits. Almost three in 10 (28%) respondents said they would go without holidays and 26% would delay significant purchases like a new car before sacrificing their TV package. And 4% even admitted they would rather spend less on children's presents and after-school clubs than lose their paid-for TV.

Carlos Palacios, banking director at Santander, pointed out that many people have already cut back on nights out and holidays, which may explain why their TV subscription is all the more important. He said: "Internet, TV and technology are a central part of modern family life but they do come at a cost, so we'd urge people who feel they need to make other sacrifices to first make sure that they are getting value for money on their current deal."

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