It seems as though many young people in the UK are putting off buying their own home insurance and staying at home with their parents due to the credit crunch.
Research conducted by Abbey has revealed that in order to save money, 20 per cent of British 18 to 24-year-olds returned home to their parents or delayed plans to move out in 2008.
The survey also revealed that 33 per cent of those moving back in with their parents were from the north of England, while 22 per cent were from the south-east.
Nici Audhlam-Gardiner, director of Abbey Mortgages, said that "while returning home or delaying your plans to move out might feel like a sacrifice, it's actually a great opportunity to save enough money to put down a deposit on a property of your own".
The Post Office recently warned people not to rely heavily on loans and credit cards to purchase everyday items such as groceries.
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