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PPI Claim: Many try to save money on New Year's Eve

Payment protection insurance (PPI) claims and credit card refunds could give people the financial boost they need to have enough spare cash to celebrate.

New research from the Post Office shows that many individuals are worried about the impact that a big night out may have on their finances.

The report revealed that 36 million people plan on counting down to 2012 while staying in this year, with 14 per cent stating they were doing so in an effort to save money.

In total, 27 per cent want to spend less on New Year's Eve than they did last year.

PPI claims could even be useful for those who will host extravagant parties as Gerry Barrett, the group's head of home insurance, said sometimes it can be more expensive to stay in as people try to impress their friends.

Recent research from found that budgets will continue to be stretched next year, with many opting not to renew their gym membership in order to save money.

Amir Hussain

Amir specialises in personal loans, consumer debt and debt management.ADNFCR-2776-ID-801251863-ADNFCR

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