[attach id=242090 size="medium"]Consumers fear they will have to make major lifestyle changes to cope with the current financial climate, according to a report. Photo: PA[/attach]

A quarter of consumers fear they will have to make “major lifestyle changes” to cope with the current financial climate, according to a UK report.

Some 25 per cent of consumers say they are “in real danger” of being forced to make changes to cope financially such as moving to a cheaper house, giving up a car, holiday or children’s private education or delaying marriage, children or retirement, the Axa Big Money Report found.

Almost two thirds of those polled (64 per cent) said their purchasing behaviour has changed significantly over the last two years.

The study found just 18 per cent believe their financial situation will improve in the long-term, while 18 per cent also said they had stopped saving money by the end of last year.

One in six (16 per cent) of workers said they would “not be able to cover” their financial outgoings for the next three months if they lost their job today.

More than one in five (22 per cent) had cut back on food spending.

Axa spokesman Andy Zanelli said: “The consistent pattern of hardship charted by the Big Money Index findings since 2011 will take a dramatic turn for some this year, forcing major lifestyle changes.

“Those who may need it most can’t afford a safety net, never mind life’s luxuries, and even those deemed ‘comfortable’ are feeling the pinch.”

YouGov surveyed 2,089 adults in December and January and 1,625 adults in February.