Homes are becoming the new social hotspots

As recession-induced frugal finances take effect on British households, new research from Friends Provident has revealed that Brits are becoming ‘social-nesters' and taking their nights out indoors. The study revealed that one in three (35%) people say they now go out less, often choosing instead to socialise at home.

The Generation Recession Report has highlighted that over a fifth of Brits (22%) are now socialising with friends from the comfort of their own living room more than they did before the recession hit. And, as people choose to stay at home more, the appeal of social networking has taken off, which means more socialising via free channels like MySpace, Facebook and Twitter. The report also revealed that the recession has impacted British singles' attitudes to dating, with more people dating online so as not to waste time or money in the recession.

Even those who are still choosing to venture out to enjoy themselves, are cutting back on kitty money with one in three people eating out or going to the pub less often (34%), and almost a quarter (22%) spending less on entertainment. The survey also revealed that amongst those still going out 21% are making full use of special offer vouchers to save some pennies.

Martin Palmer, head of corporate pensions marketing at Friends Provident, said: "It is encouraging to see that consumers are reining in their spending habits and saving money where possible in the current climate. In these times of financial uncertainty it becomes more important than ever to put money aside for people's long term futures.

"Clearly shunning our social lives completely isn't an option and not even the global credit crunch can prompt that! However, it's interesting to see how it has led to a shift in social interaction, especially with regard to people embracing the newer technologies."