Brits are set to save more than £2,000 this year – by cutting back on fun moments with friends and family. A poll of 2,000 adults found eating out at restaurants, holidays, and even going to gigs, are among the top things they are spending less on – saving £171 a month as a result.
And others have canned trips to the theatre and plans to dance the night away at a music festival.
The ongoing cost-of-living crisis is the main cause for those cutting back, with 53 percent deciding against enjoying an array of sociable activities as a result.
And 59 percent can’t justify spending money on fun and pleasurable activities because of other financial commitments – with 27 percent recognising this summer won’t be as good as previous years.
UK festivals and gigs are usually among the top summer activities, but 39 percent don’t have any live events lined up at all – despite 62 percent saying they would usually attend at least one each year.
The research was commissioned by Magnum, which has teamed up with Tom Grennan to mark the launch of its new “Pleasure Pass”, to give thousands of Brits access to some of their favourite festivals, gigs, and events for free.
The “Found What I’ve Been Looking For” singer, said: “I was gutted to read the stats on how much people are cutting back on things that bring them pleasure, and this initiative is all about giving back and giving people that joy and entertainment we all need and deserve right now.
“There’s nothing like the euphoria and togetherness of live music. It’s a feeling like no other, whether you’re on stage or in the crowd.
“Keeping tour tickets low and as accessible as possible is something I’m really passionate about. I’ve just done it on my recent tour so as many of my fans could come along as possible, and I love that Magnum share that same ethos.”
It also emerged 61 percent are prioritising their spending on household costs, transport and utilities – meaning personal pleasure funds are taking a backseat.
That said, a third admitted they are getting FOMO – a fear of missing out – if they see others having fun, with 40 percent “disappointed” they have had to cut back.
However, 24 percent feel bad or annoyed with themselves if they enjoy moments when they could be working or studying.
The study also explored live events – with the atmosphere, listening to music, and spending time with friends and family, among the most popular aspects about going to one.
When attending shows in the past, 37 percent of gig goers have managed to see their favourite artist of all time, while 24 percent have discovered a new genre.
Concerts have also enabled 23 percent to meet new and interesting people – and 11 percent even met their best friend or partner at a show, the OnePoll survey found.
And 21 percent are “always reminiscing” about the good times they had with friends in the crowd.
However, 27 percent feel pressure from friends and family to prioritise saving money rather than spending it on events like a music festival or a gig.
A spokesman from Magnum said: “We truly are a nation of pleasure seekers, and that makes it tough to learn so many are having to miss out on things that bring them pleasure like music festivals and gigs.
“We believe a day without pleasure is a day lost, which is why we were compelled to create something that allowed people to enjoy unrestricted access to the pleasures they look forward to each summer.
“We hope people will enjoy all of the amazing events we have on offer and have their best summer season yet.”
People can get a Pleasure Pass by spinning the wheel for a chance to win here, or by finding the Magnum Pleasure Bus which will be popping up in different UK cities across summer.