Finance Choices
The hidden cost of New Year's at home
Deciding to spend New Year's Eve at home can cost more than you might think, new research reveals.
Barclays Insurance Services finds that people planning parties in their houses are expecting to spend an average of £197.82 on drinks, decs, and nibbles. But as well as the cost of celebrating the start of 2006, Britons are set to spend another £78.40 cleaning up afterwards.
However, for a few, the cost of putting your house or flat back in shape after revellers have wandered home is far higher.
Six per cent of Brits are set to spend a minimum of £400 on their party, but might have to fork out even more if they are not careful.
Barclays Insurance Services reveals that, in the wake of a party, one person in five needs new glasses or crockery, one in seven needs to replace or professionally clean flooring, one in 14 needs to replace furniture or curtains, and one in 20 requires a new stereo or TV.
And party organisers cannot expect their guests to make good for any damage they have done.
Ten per cent of party-goers say they would own up to breaking something, but would not expect to pay for it, while five per cent would simply deny all knowledge of the incident to avoid forking out for a replacement.
"A little bit of wear and tear is part and parcel of holding a party," said Adrian Grace, managing director of Barclays Insurance Services.
"However, as festive spirits are high and party-goers want to make sure the new year starts with a bang, hosts may wake up with more than just a headache in the morning.
"By double-checking exactly what their home insurance covers them for and updating their contents insurance with any major Christmas gifts such as TVs, ornaments or jewellery, party hosts can relax and have a good time."
Barclays' top tips for a happy and safe New Year's Eve party:
Make sure you safely store away valuable items (to prevent damage to them).
Avoid placing flammable decorations near candles or an open fire.
Avoid serving drinks near your electrical gadgets (to prevent damage).
Have plenty of ashtrays for smokers and watch out for unattended cigarettes.
Do not use your best china (to avoid it being smashed).
Make sure you have up-to-date home insurance cover.
Barclays Insurance Services finds that people planning parties in their houses are expecting to spend an average of £197.82 on drinks, decs, and nibbles. But as well as the cost of celebrating the start of 2006, Britons are set to spend another £78.40 cleaning up afterwards.
However, for a few, the cost of putting your house or flat back in shape after revellers have wandered home is far higher.
Six per cent of Brits are set to spend a minimum of £400 on their party, but might have to fork out even more if they are not careful.
Barclays Insurance Services reveals that, in the wake of a party, one person in five needs new glasses or crockery, one in seven needs to replace or professionally clean flooring, one in 14 needs to replace furniture or curtains, and one in 20 requires a new stereo or TV.
And party organisers cannot expect their guests to make good for any damage they have done.
Ten per cent of party-goers say they would own up to breaking something, but would not expect to pay for it, while five per cent would simply deny all knowledge of the incident to avoid forking out for a replacement.
"A little bit of wear and tear is part and parcel of holding a party," said Adrian Grace, managing director of Barclays Insurance Services.
"However, as festive spirits are high and party-goers want to make sure the new year starts with a bang, hosts may wake up with more than just a headache in the morning.
"By double-checking exactly what their home insurance covers them for and updating their contents insurance with any major Christmas gifts such as TVs, ornaments or jewellery, party hosts can relax and have a good time."
Barclays' top tips for a happy and safe New Year's Eve party:
Make sure you safely store away valuable items (to prevent damage to them).
Avoid placing flammable decorations near candles or an open fire.
Avoid serving drinks near your electrical gadgets (to prevent damage).
Have plenty of ashtrays for smokers and watch out for unattended cigarettes.
Do not use your best china (to avoid it being smashed).
Make sure you have up-to-date home insurance cover.
posted by Barbara Gordon at 8:38 AM
The hidden cost of New Year's at home
3 Comments:
I'd still rather stay in than go out and spend a fortune to get into a bar, a fortune on drinks, a fortune on taxis and a fortune on paracetamol in the morning ;-)
Tomorrow night is possibly one of my least favourite evenings of the year. With the exception of last year, when I was in a very remote farmhouse in central France with family and some close friends, every New Years Eve I have experienced to date has been a disaster.
The year before last I was driving to a go-karting event in the afternoon when a lady coming the other way decided to turn her car in front of mine. Result: two destroyed cars and me as a nervous wreck when driving for a couple of months afterwards (fortunately no serious human damage!). A number of years ago the taxi drivers in our nearest town decided to put their prices up so much that we ended up having to walk twelve miles home.
I've also had the normal queuing in the rain for hours experience and paying a fortune to get into a rubbish bar where the staff treat you like pond life. (Could any other business apart from a bar or nightclub get away with charging you for entry and then having their staff treat you with absolutely no respect for the entire evening - bouncers, you have to love them!)
So tomorrow night my wife and I are settling down for a nice quiet evening in, having a nice meal and watching some DVDs. We won't have to worry about queues in the rain, overpriced taxis, the pressure to 'have fun' or rude door staff at nightclubs.
My local is walking distance and they do not do anything special for new years eve - just the same good food they do all year round and at the same prices.
We will come home at about 11 and then see in the new year in front of the telly
I love new years eve, not for the drinking but as a moment in the year to reflect on the year that has been and the one that is about to come. A time of hope, wonder and expectation. I am not a big fan of christmas but new years eve is a very special time for me. My goal for 2006 is to make every night a new years eve!! (except without the pub bit!!)
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