Britons are avoiding borrowing more money in an attempt to improve their financial situations, research shows.

Statistics from Fairinvestment.co.uk show 74 per cent of people are shunning borrowing, despite figures from August last year showing debt on credit and store cards totalled more than £2,000.

"Not long ago, people thought nothing of getting another loan or credit card, as credit was easier to secure but as lenders tighten their criteria it seems people are taking note," said chartered financial planner at Fairinvestment.co.uk Sharon Bratley.

She added that the fact people are steering clear of debt is "encouraging" and reflects the changing economic climate.

The remaining 26 per cent of people who have borrowed money since the onset of the recession have done so through more than one method, with seven per cent of people opting to take out an additional credit card.

Earlier research from the website found that 63 per cent of Britons admit to feeling their finances stretched since the credit crunch began, with ten per cent struggling with mortgage repayments.