Member Article

UK population counting the cost of Christmas

Nearly half of the UK’s population are worried about how they will cover the cost of Christmas this year, a survey has shown.

Around 45% of people said they were concerned about how they would fund the festive season, while 66% said they would not be able to save enough money to cover the full cost of the celebrations, according to website moneysupermarket.com.

Only 17% of those questioned said they had already saved enough money for Christmas, while 34% said they thought they would have set aside enough by the time they needed it.

But 17% of people admitted they would be using their credit cards to pay for their festive spending.

Kevin Mountford, head of banking at moneysupermarket.com, said: “Christmas is always a difficult time of year financially and the current economic climate is not making things any easier.

“Preparation is the key during the festive season and consumers who have saved will be able to start the New Year without the burden of Christmas debt hanging over them.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .