Brits 'stay in to avoid credit crunch'

As many of us are cutting down on household spending with reduced incomes, it seems we are increasingly cutting back on foreign holidays as a means to save money. People in Britain are spending more time at home in an attempt to save money in the wake of the credit crunch, it has been claimed.

According to research from a leading insurance company, 39 per cent of people are staying in more, while 82 per cent are making significant lifestyle changes to accommodate a tighter budget. This means things like fewer nights out on the town, fewer take away meals and eating out. We are even cutting back on days out for the kids and going to cheaper destinations in the UK.

The company added that 29 per cent of British adults are doing their own home improvements to cut costs, while those living alone are most likely to live without any luxury items. Our houses are becoming the place where we spend the most leisure time and so we want to make sure they are comfortable and generally nice places to be.

A representative of the company said that: "The repercussions [of the credit crunch] are already affecting people's home lives, as shown by the latest research results. It is particularly interesting that Brits' homes are becoming increasingly important to them as a shelter from the financial uncertainty."

Research from money charity Credit Action shows that the UK is currently in combined personal arrears of more than £1.4 trillion. This shows that many people are having severe financial difficulties and cannot afford luxuries like foreign holidays.
Many of us already holiday in the UK as there are plenty of excellent places to see. If you do your research you can find an abundance of cheap and free days out and places to visit with or without children in the UK, with the major cost being transport.

If you would like to know more about travel in the UK why not ask AnswerBank Travel.