- 01
- Dec
It appears as if the cost of having a Merry Christmas is increasing with over ten per cent of all Brits planning on spending over £1000 this festive season. This is according to a new poll carried out by a leading credit reference agency which also shows that the number of people planning so spend over £1000 having doubled since the same time last year.
It may not surprise many spectators who have watched prices for everything going up steadily over the year but what will come as a surprise for some is the way people are planning to finance their Christmas spending.
It appears as if many of us are becoming more financially responsible with the vast majority of those polled saying that they would be financing their Christmas spending either from savings, or from their current accounts. Only one in ten people said that they would be using credit cards as their main means of financing their holiday spending.
So what does all this mean for the average consumer. It appears as if we are doing better with our finances with more people than ever being able to spend larger sums over Christmas and not having to finance this spending from credit cards. However, there is one important point to realise when looking at the poll.
The poll asked about people’s intentions for the coming Christmas, and it is well known to everyone that we do not always manage to do as we intended, especially when it comes to financial restraint. It is not surprising that many people intend to use savings to fund their Christmas, what may be more surprising is to see in January just how many actually managed to do so.
