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Not only have takeaways become the victim of the credit crunch, but it seems as though more cash-strapped Brits are spending their Saturday nights at home as their disposable income is on the decrease.

According to a new survey by Halifax Home Insurance, 60% of those polled now spend Saturdays nights at home with friends and family rather then go out to restaurants or for an evening at the local pubs and clubs.

84% have admitted that the change in weekend spending habits is due to an active effort to try to manage debt levels as they struggle against the credit crunch and soaring household bills. Many are willing to share debt free tips as 73% said they plan to share money-saving ideas with friends and family.

Paul Birkhead, of Halifax Home Insurance, said: “They say Brits are at their best when times are challenging, and our research clearly shows we’re being resourceful in watching the pennies while looking to have a good time – and it’s bringing people together.”

Brits abroad are tightening up their bum-bags this year. Research from FairFx show that 57% of holidaymakers are going to cut back on their holiday spending due to the rising costs of living and reduced availability of credit.

Since the credit crunch began sweeping the UK, banks have tightened up their lending criteria and raised interest rates on credit cards and loans. This has trickled down to the average family who have been hit hard with new debt problems, with 1 in 10 surveyed saying that they will reduce the amount they plan on spend on holiday as a direct influence of the credit crunch fear.

Stephen Heath, chief executive of FairFX.com, said: “Brits have been forced to slash their holiday spending as the credit crunch and the hefty rise in the cost of living hits them hard in the pocket.”

The credit crunch means that an increasing number of Britons feel more comfortable talking about debt and money issues, according to new research by Credit Expert.

Apparently over half us us are now willing to talk about money and debt issues compared to this time last year, in order to either get debt advice or share debt information with friends or family who are in a similar situation with their debts and financial issues.

Director of credit expert.co.uk Darryl Bowman commented: “It’s good t see people reacting positively and talking about their finances with those closest to them.”

As the effects of the credit crunch continue, there has been an increase in the number of people who are asking for debt help. According to research by MoneyExpert, more than one in eight people of us has asked for debt help as our finances get further out of control.

The research shows that 30% of UK adults are concerned that they will not be able to repay their credit card debt, secured loan, store card debt or meet mortgage payments.

Sean Gardner, director of MoneyExpert.com, commented: “The banks are reporting growing levels of bad debts as customers fall behind on repayments.” However, not all of those who need debt help are actively seeking it, as more than half of those who are very concerned about their debt problems have yet to seek debt help.

Does the Credit Crunch Mean You Need Debt Help?

Dealing with debt can be a very stressful time; making multiple creditor payments to your unsecured debt as well as keeping on top of your mortgage payments may prove impossible if your

The credit crunch is hitting the whole of the UK hard, bit it seems as through the over 50s are the ones who are suffering the most. Research by the Post Office reveals that almost half of the 50-plus need help to manage debt as they resort to using their credit cards in order to afford daily living costs, with three quarters having access to more than one credit card.

Putting money aside for a rainy day is becoming more of a hope then an actuality, as a third of those in this age bracket are unable to save regularly.

Duncan Caesar-Gordon from the Post Office said: “In an economic climate where living costs are soaring, over 50s are finding they cannot afford to save and are more reliant on credit.”

Sadly, these figures do not get any better with age. 57% of the over 70s are unable to make any deposits to their savings and 64% admit to regularly paying for food with credit cards.

The global credit crunch has has a great impact in the way that we spend our money, and it has even changed what we are searching for. Which? have reported Google statistics showing that more Brits are searching for credit crunch terms such as vouchers, budget meals and sewing classes in order to help their debt management skills.

It seems that more of us are looking reduce holiday debt, as there has been a decrease in city break searches by 20% and homes in Spain by 28%.

Although perhaps one good thing about this economic downturn is that more of us are actively searching for ways to keep our savings secure. Which? report that an increasing number of us are wanting to keep better grip on our savings, as the search for safe savings is up by 900%, compared to 2007.

Elan Dekel, product manager at Google, said: “This is a fascinating snapshot into how Britons are reacting to the current economic situation.”