JOMO: Millennials all about the Joy Of Missing Out with 9% preferring to give up sex over Netflix

The survey, conducted by VoucherCodes.co.uk, has shown that the allure of saving the pennies and eschewing those day-to-day plans which soon take their toll on your bank balance is becoming increasingly appealing, with 64% of people in the North West saying they regularly indulge in JOMO, preferring their own company to socialising an average of twice a week.

With the average person in the region spending over £520 a year on subscriptions and 10% forking out more than £100 per month, it comes as no surprise to learn that 71% credit the rise of subscription services as leading to greater levels of JOMO. What's more, a quarter would rather give up football than their subscriptions, a fifth would sacrifice alcohol, and 9% would forego sex.

FOMO - typically instigated by watching other people's lives play out in picture-perfect Hollywood quality via social media - seems to be one the wane somewhat, with almost a third of North West folk saying they experience it just once a fortnight nowadays. A telling shift in priorities appears to have taken place: 51% consider time alone to be very important to their happiness while 32% believe time with friends is just as essential.

“Far from feeling anxious about missing out on events, Brits are increasingly taking pleasure in skipping plans so that they can enjoy their own company at home," said Anita Naik, Lifestyle Editor at VoucherCodes.co.uk. "The desire to save ­­­money polled as the most common reason for JOMO now being twice as popular as FOMO.

"However, this isn’t at the expense of quality time with friends as splashing the cash on experiences to create memories is the priority over materialistic possessions," Anita added.

Amongst people's favourite JOMO rituals are not getting dressed all day (36%), getting an early night (35%), bingeing TV all day (28%), and reading (27%), while for many the sheer accessibility and ubiquity of subscription services leads to procrastination to avoid exercise (41%), cleaning (38%), and doing laundry (29%).

As with most things, Millennials are at the vanguard of the new JOMO revolution, with a quarter confessing they spend the equivalent of one working day watching Netflix every week while 22% say they listen to music on Spotify for at least an hour every day. Relying increasingly on social media to keep up with mates, Millennials also say they spend scarcely three hours (203 minutes) a week with their friends - compare that to the average 82 minutes per week they spend swiping away on Tinder.

Saving money (41%) is Millennials' reason for indulging in a spot of JOMO; additionally, it's the quality of time spend with friends rather than the quantities of times they meet up that is most important, with 69% preferring to spend their money on memorable experiences than material possessions. Why bob down to the pub four times a week when Netflix and city breaks are the alternative?

“The research has found that the rise of JOMO has largely been born out of the subscription economy, with Millennials in particular becoming tied to the likes of their mobile phones and Netflix," Anita continued. "This stranglehold on their day-to-day life means some Millennials are now happier to give up alcohol, social media and sex than their subscriptions."