Latest Debt News
More Brits staying at home to counteract credit crunch
07/07/2008 17:19:00
In order to tackle rising costs and attempt to save money, over a third of British adults are spending more time at home, according to the latest research.
The findings from Legal and General show 82 per cent of people in the UK are changing aspects of their home life to cut back on spending, with single parents being the worst off.
More than 90 per cent of single parent families had felt a direct influence on their domestic life due to soaring costs, the survey showed.
Ruth Wilkins, head of communications at the general insurance arm of the company, said: "The research highlights just how much our homes and home life can change as a result of wider influences on our lives."
"The current economic situation is no exception and the repercussions are already affecting people's home lives," she added.
In other news, Firstrung, the property solutions company dedicated to first-time buyers, has advised the group to "save and sit it out" while the property market corrects itself and not to "waste that deposit" saved for a potential house later on.
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