The recession is making millions of us value money more and value possessions less. Over two-fifths of us (42%) believe that money is now more important to us than it was before the economic downturn and nearly one quarter (23%) believe that possessions are less important. Only nine per cent believe money is less important now.
The findings come from a face to face survey of 2,043 people commissioned by the Charities Aid Foundation and carried out by GfK NOP earlier this month.
Three quarters (78%) of us believe we are all thinking more about how we spend our money and many are changing their behaviours.
Two fifths (39%) of those surveyed said they are spending less money going out. One third (33%) said they are spending less on holidays, with 14% having already cancelled, or decided not to have a holiday.
In response to the downturn, nearly a quarter (23%) are shopping in less expensive, or charity shops and 14% are choosing to spend money with companies whose ethics they agree with such as fair-trade, or environmentally responsible businesses.
Despite the economic uncertainty 77% are giving as much to charity as before with eight percent giving more; though 14% have given less. Among those who gave more the two most popular reasons were because it made them happy to help good causes (28%) and because they wanted to help others who may be less fortunate (a further 28%).
When asked about how they view society now, compared to before the recession, a third (33 percent) think that people are now more likely to help others in need and nearly one quarter (23%) believe society is already more caring and compassionate.
The recession could also bring many families closer together with 31% saying they are thinking more about the needs of their immediate and extended family. It could also be good for the planet with 23% stating they are now thinking more about the environment and green issues.
Commenting on the research findings John Low, Chief Executive of the Charities Aid Foundation said, "It is heartening to see that some good is coming out of these very difficult times as values in society change for the better. This is certainly good news for the people and causes helped by charity"
"After the US 1930s Great Depression it is estimated that charitable giving doubled. This is probably because people saw up close the suffering caused by a major economic crisis and how charities helped. "
