The UK has long had a reputation for being a nation of shopping.
But there’s a new trend in the country: people are taking their wallets and purses and shopping at home.
The trend has hit the UK especially hard, with an estimated one-third of households in the past year carrying less than £1,000 in cash, according to data compiled by the Royal Households Survey (RHS).
The UK now has one of the highest levels of consumer indebtedness in the world, according a report by the Economist Intelligence Unit (EIU).
That means that many people in Britain are now borrowing more to buy their everyday essentials, with many of them buying their own home instead of renting.
But despite the country’s high levels of debt, most Brits don’t seem to be taking this new trend for granted.
For some, it means they’re living dangerously, according, to the report.
The Guardian reports that a growing number of Brits are taking the time to shop at home instead, with some going as far as buying groceries in their own homes.
In fact, according the EIU, many Brits may be living on their own.
“Many households now live on their home and buy their own groceries, rather than renting out their spare rooms,” said Paul Williams, an economist at the ESU.
“This has been especially pronounced among younger people, many of whom have been drawn to this lifestyle by the prospect of owning their own property, and can now afford to spend the money on essential goods such as groceries.”
One recent study, published by the Centre for Economic Policy Research (CEPR), found that the number of households with mortgages has grown by more than half since 2008, with more than 50% of households now using their mortgages to purchase their own goods and services.
The study also found that, on average, households with a mortgage were paying an average of £12,000 more a year in mortgage repayments than those without, suggesting that the rise in mortgage debt is primarily a result of borrowing.
In other words, borrowing more is driving up household debt, while spending more is a result from spending less.
The rise in consumer debt has been a long-time trend, but in recent years, many have become wary of the process of getting into a debt-free life.
A few years ago, some people who had debt-burdened lifestyles took to Twitter to express their discontent with the process.
“I’ve been borrowing for years and can’t pay it back!,” wrote one user.
“No more, no less,” replied another.
“So, I’m just going to go ahead and buy myself a house and live on the cheap?” asked another.
The growing number buying their home, and living in it, has led to an increasing number of people being “shopping at home”, according to one UK consumer.
“Shopping at Home” is a term used to describe the act of purchasing a home, typically in the form of a mortgage or credit card.
Many Brits have begun to take advantage of this trend.
In May, The Guardian reported on a group of people living in a small house in the countryside in the United Kingdom.
The couple had been living there for nearly a year, buying a large garden, a garden shed and a farmhouse for themselves.
The house, which the couple bought for £600,000, has been used as a living room for a number of weddings and gatherings, and the couple have been spending time out on the property, shopping for groceries and playing a game of golf.
The family has recently moved into a bigger home, which they bought for the couple, with the help of a loan, for around £1 million.
The BBC reported that the couple has since taken out a further loan of £3.6 million, with a £2 million down payment.
The loan was paid off last year, and it’s expected that the family will be able to purchase the property for £1.3 million this month.