Brits 'saving money by in-tertaining'

British consumers are increasingly entertaining themselves in their homes as they bid to reduce expenditure, it has been claimed.

According to Abbey Savings, by cutting back on entertainment costs such as going to the cinema, gym, pub or restaurant, households are saving a combined £3.9 billion per month.

Each individual home has kept an average of £89 each per month by resorting to DVD rentals, home workouts, dinner parties and takeaways and alternatives, it is claimed.

Reza Attar-Zadeh, director of savings and investments, commented: "The recession has made people far savvier when it comes to saving money, and millions of us have worked out that in-tertaining is a great way to cut back without missing out.

"So much so, that a whopping 57 per cent of our monthly, paid for entertainment is now being consumed in our homes."

She said it was great that consumers are reducing costs in this way, but urged them to make their money go as far as possible by placing it in accounts offering the best interest rates on savings.

Last week, goodtoknow.co.uk claimed that UK families should be budgeting for Christmas in a bid to avoid establishing unnecessary debts.

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2009-10-30 13:53:00 © Moneyextra.com