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Credit crunch breeds ‘blitz spirit’

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19/01/2009

Research from Cahoot finds that the credit crunch is bringing households closer together.

Indeed it seems that something of a blitz spirit is emerging as more of us choose to do things with our loved ones in order to share or cut our daily costs. And it seems as though it’s paying off, with Britons reckoning that they can save a colossal £18bn, or £408 per person, by sharing the costs of living with friends and family.

According to Cahoot’s research 39% of Britons say that they’re spending more quality time at home with their nearest and dearest and less time out and about socialising. A further one-in-five say that they’re sharing more family mealtimes in a bid to shared food and cooking costs. Interestingly 18% say that they’re watching less TV in the evening to reduce electricity and TV subscription costs, with 6% choosing instead to revert to more classic forms of entertainment, such as a family board game or knitting.

But electricity is not the only utility that Britons are trying to conserve. One in 10 British households have taken to sharing bath water with family members, in order to reduce their gas and water bills.

Matthew Timms, head of Cahoot, said: “Interestingly it seems that the credit crunch is breeding something of a blitz spirit amongst British households. Staying in really has become the new going out as we seek to cut costs by conducting more shared activities inside the home with family and friends.

“Cahoot online baking allows its customers the convenience of 24-hour internet banking, with secure e-mail contact and texts alerts, you really can meet all your banking needs without having to leave the house.”

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