Fri, 26 Aug, 2016
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Consumers saving money by staying in

Half as many people are spending their money on eating out than they were ten years ago, new figures from financial services company Mint suggest.

Rising costs and the desire to entertain guests at home are two of the main reasons for this new trend, according to the company.

The figures show that 60 per cent of Brits now entertain regularly at home, with 30 per cent preferring to hold barbeques, 27 per cent favouring drinks parties and 13 per cent enjoying dinner parties.

A total of 32 per cent prefer staying at home to avoid the hassle of travelling to different venues, which can result in spending extra money on taxis and public transport.

Mint explains that these changes indicate the nation's desire to take control of its finances, with many people suggesting that they can have more fun at home without dipping into their savings.

Jerry Toher, managing director of Mint, said: "We know from our research that a major reason for people to entertain at home is to control their finances.

"It seems that clever spending is fast becoming a priority for people, but without compromising on having fun."

Increased home improvement and barbeque sales over the last fortnight also suggest that more people are choosing staying in as the new going out.