Home Business NewsBusinessAutomotive News Cost of living crisis: Brits to stay home to save money on fuel and will reduce the amount they spend on festive foods

Cost of living crisis: Brits to stay home to save money on fuel and will reduce the amount they spend on festive foods

by LLB Finance Reporter
22nd Dec 22 12:59 pm

The cost-of-living crisis is set to cause heartbreak for UK families as more than one in three (39%) Brits plan to stay home rather than visiting family or friends in order to save money on fuel.

Leasing.com has revealed that the UK is curbing costs wherever possible. A quarter (25%) are spending less on fuel with fuel prices increasing by more than 25% in the past year (Oct 21 to Oct 22), adding £28 to the cost of an average tank.

For those who do venture out, most aren’t going far: a third (33%) will slash their journey times by only visiting friends or relatives closer to home, rather than making long, festive journeys across the country.

But sadly, it’s not just fuel spending being reduced, with 44% of adults expect to buy fewer or lower-priced presents this year with 34% also axing activities like Christmas parties, pub visits or trips to the cinema.

Even the humble Christmas dinner could come without the trimmings with well over a quarter of the public (28%) looking to reduce the amount they spend on festive foods, including snacks and the main course itself. So not only are brits being forced to stay home, but those who do, will feel less festive in doing so.

However, whilst many Brits are stopping their journeys in their tracks, few will travel to see family. In fact, almost a quarter (23%) are set to use public transport to see family and friends; leaving the car at home. But with Rail strikes looming, many could be left stranded.

Dave Timmis, Founder, CEO of Leasing.com, said the data paints an upsetting picture, “Christmas is a time for family and friends, yet sadly, we’re seeing many people disrupted in their plans and traditions by rising costs.

“I’m sure that, despite the challenges, Brits will make Christmas as magical as always. But we sincerely hope families and friends can reconnect and celebrate as soon as possible.”

Whilst fuel is a crunch point for many, EV drivers will also struggle this year as energy prices are on the rise with the national grid preparing emergency strategies to reduce energy usage at peak times.

Dave added: “For those who drive EVs, we advise charging your vehicle outside of peak hours and if possible, overnight, as many energy providers offer a reduced rate for overnight energy usage.

“Alternatively, some public car parks and supermarkets offer free charging, so if you can plug in for free during your Christmas shop, it may save you a few pounds!”

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