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Brits dipping out on summer savings
Every summer people are saving money on utility bills but the money is being spent on leisure activities instead, according to new research.
Figures from National Savings and Investment (NS&I) show 42 per cent of Brits believe they save money on household bills and outgoings during the summer months, but 43 per cent of people questioned said budgets go out the window when the sun comes out.
Nearly half of the population think they spend more on leisure activities in the summer, mainly due to school holidays.
Dax Harkins, NS&I's savings strategist, warned people not to be so dazzled by the sunshine "that they forget their finances".
He said: "It's great that many essential household costs are less during the warmer months, but Brits would be wise to try and make the most of these savings by putting some of this money away."
Figures from Holiday-Rentals.co.uk Ltd show how 20- something's are holidaying with their parents to save money amid the recession.
The new breed of holidaymakers dubbed HOMADs (Holiday on Mum and Dad) are turning to their parents for a cheap break.
More than half (52 per cent) of those in their 20s are considering a trip away with their parents this year, with 14 per cent saying they already have something booked.