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Credit crunch hits New Years Eve plans

Tightening finances cause almost three quarters of Brits to stay in this year

By Elliot Wright, 30th December 2009

Brits are looking to save money this New Years Eve by seeing in the new year at home rather than celebrating in bars and clubs.

According to a survey by the Post Office, almost three quarters of adults in the UK are planning a quiet night in rather than a traditional 'big night out' following a year of tightening credit and job insecurity.

In the survey, 14% of adults stated that the recession as affected their plans. Of these, eight in ten said that lack of money has meant they can't do what they would like this year.

Whilst finances have certainly influenced many revellers' plans, almost a third (31 per cent) claimed that family members were the deciding factor, preferring to spend the night in with their loved ones instead. Only seven per cent claimed they would spend the night celebrating in a club or down the pub, so venues could face further financial woes with fewer revellers than ever going out this year.

Post Office Head of General Insurance, Richard Pennant-Jones, said: "With most clubs and bars charging over the odds for drinks and door entrance on New Year's Eve it's not surprising so many of us prefer to stay in. Not only does this make for a cheaper night, but you also avoid the stress of finding a taxi home."

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