Credit crunch brings families together

| January 20, 2009 | 0 Comments
Credit crunch brings families together

The credit crunch is a lot like the World War II Blitz, new research has revealed.

The poll by Cahoot, Abbey’s online branch, found that recession induced penny pinching is bringing families closer together in a ‘Blitz’ type spirit.

Brits are choosing to spend time at home with loved ones instead of going out and spending money - saving on average £408 each per year.

Nearly one in five respondents said they are reducing cooking costs by eating as a family, whilst 39% are spending more time at home.

Eighteen percent are watching less TV to reduce electricity and TV subscription costs, whilst 6% have taken up traditional forms of entertainment including family board games and knitting.

One in ten have started sharing bath water with family members to reduce gas and water bills.

Matthew Timms, head of Cahoot, said: “The credit crunch is breeding something of a Blitz spirit amongst British households.

Staying in really has become the new going out as we seek to cut costs by conducting more shared activities inside the home.”

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