New research shows 82% of British adults are making significant changes to their home life as a result of current financial uncertainty, with many, 39%, spending more time at home as they attempt to save money.
At a time of increasing living costs and growing financial uncertainty, research by Legal & General reveals that one in four, 26% have changed their holiday plans and nearly one in ten are cutting back on entertaining at home, 9%.
The research, conducted by Legal & General's general insurance business as part of its Changing Face of British Homes report, asked over 4,400 British adults what changes they are making to their home and home life in order to save money, given the current economic climate and outlook.
Over 90%, of single parent families are experiencing changes to their home life as a result of the current financial pressures, compared to 82% of households on average. Significantly more single parent families are changing their plans to go on holiday, 35%, compared to the average household, 26%. Over one in four, 28%, are planning to sell household items in order to make ends meet, compared to 19% nationally and 50% of single parent households are cutting their food spend, compared to 42% nationally.
The research also shows that 29% of British adults now intend to do their own DIY home improvements in order to save some money. Previous research indicated that Brits spend an estimated £7billion employing others to do their household chores. The latest findings show that just 4% would no longer employ a cleaner, or gardener, in order to save money which could indicate that we are still not prepared to lose the help in and around the home.
