Many to see in New Year at home

30/12/11

By Shane Gladstone 

Money worries have led to a spike in the number of people who'll be staying at home this New Year's Eve, according to new research.

The Post Office Home Insurance survey found that 74 per cent of people were planning on having a big night in this year rather than heading out to clubs and bars.

More than a tenth said cash was their main reason for staying at home.

The figures suggest people are calling time on what has always been known as the year's biggest night out.

A similar survey in 2007 found an almost even split between those going out and those staying in.

The figure is also marginally up on last year, when 72 per cent of people opted for a night at home

However, a night in doesn't come cheap, according to the study.

It found that people were planning on spending almost £100 on their living-room New Year's Eve party, compared to an average of £48 for people looking to hit the town.

Post Office head of home insurance, Gerry Barrett, said: "New Year's Eve can end up being a costly night and as our research shows, bizarrely, it can be even more costly for those who plan to stay in."