The community crunch?
11 August 2008
Nearly a third (32 per cent) of people think that the ongoing effects of the credit crunch are resulting in more neighbours and communities being brought together, it is suggested.
Financial services provider Halifax notes that more people are spending their leisure time at home, potentially due to the restrictive fiscal conditions currently being faced.
Almost two-thirds (60 per cent) of respondents say they now spend Saturday evenings with family and friends at each other's homes, rather then going to restaurants, pubs and nightclubs.
Paul Birkhead, spokesperson for Halifax Home Insurance, states that the cost of a weekend night out can easily mount up when taking into consideration food, drink and entertainment and that as a result, many people are choosing to stay in.
"However, more home entertaining can mean more risks of spills and breakages, so it's important to make sure your home insurance includes cover for accidental damage around the home," he concludes.
Meanwhile, Prudential recently suggested that the credit crunch is forcing people to cut back on their pension savings.
