Well, the recession is biting. Jobs have gone, homes have been lost and people are drawing in the purse strings, especially when it comes to luxuries such as holidays and entertainment. More is being made of in-home entertainment and social gatherings in friend's houses rather than paying out for clubs, bars and restaurants.

Basically, when it comes to entertainment, you have two choices: stay in or go out. So, let's weigh up these two options and see which is more economical.

The usual Friday or Saturday night entertainment would involve a night on the town. For us girls, this means at the very least some new bling but more often than not, a new top, dress, bag, shoes, make up or one or all of the above. These items don't come cheap but are essential for making sure you feel as good as you need to.

With the outfit sorted we just need four or five hours to put the whole ensemble together. We make our way into town for a couple of drinks and then move onto a restaurant to line our stomachs for the night ahead. You can allow around £40 per head up to this point. After this, we have club entry fees as well as several more drinks at extortionate rates and before you know it, you've blown over £100 on a night out, not counting the prior arrangements.

Alternatively, you could invite your mates round. This takes virtually no preparation for. Shove stray socks under the sofa, wipe dust off surfaces with a sleeve and you're pretty much ready to go. Of course, you will be expected to lay on a few nibbles but it's also good etiquette for guests to bring a little offering of munchies and/or drinks, therefore sharing the expense.

So what can you do once your guests have arrived? Well, technology is the way to go at the moment. Yes, this article does centre around the fact that we need cheaper entertainment but it's highly unlikely that people will ever reach a stage where they are willing to forgo their TV's or computer games so that is the basis for in home entertainment, alone or with friends.

A Bravia LCD TV that is set on a wall will have minimal impact in a room. In fact, they can even be set up to blend with a wall of pictures by looking like they are a picture frame and being able to transmit chosen pictures when not turned to the TV setting. These take up no floor space whatsoever leaving you more room for furniture and more space for your guests.

So, now your choice is computer games on your flash LCD TV or DVD's. Well, either option is viable depending on the mood of the evening. Generally, a few of the boys getting together would like to play shoot 'em up games and display their skills and compete with each other. On the other hand, get a bunch of girls together, a bottle of wine or four, a few choices and a couple of weepy DVD's and your entertainment is complete.

So, all is not lost. We may not have the money to go out, living it up on the town every night but for a fraction of what that would cost we can have a much more sociable time in our own homes with very little effort.