Cash-Strapped Nation Stays In to Save Money

Published on 1 January 1970 by Raffick Marday

Cash-strapped Brits are spending more time indoors this month, with many replacing socialising with indoor activities such as DIY, a new study reveals.

According to Halifax Home Insurance, 39 percent of Brits are staying in this month because 58 percent do not have the cash to go out, and 47 percent are trying to save money.

More than five million people will be spending more than 20 hours inside their home each weekend in January, not including time spent sleeping.

The Christmas overindulgence is, for 21 percent, the main cause of their financial hangover and a desire to avoid drinking and eating is for 16 percent on diets, the cause of their hibernation.

Many Brits are turning to interior entertainment such as watching DVDs and playing computer games to keep themselves occupied, 19 percent, while a further 28 percent are embarking on DIY projects.

“DIY is a great way to save money and keep yourself occupied – but for many it can prove a false economy,” warned Martyn Foulds, Halifax Home Insurance senior claims manager.

“With more than four million DIY tasks already having been botched this month, we estimate the cost to homeowners has been almost £540 million.”

The New Year has sparked a wave of people repairing items around the home that they cannot afford to replace, as 37 percent admit.

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