Overview
- A Creditspring-commissioned survey of 1,200 parents found 54% cannot comfortably afford Christmas this year, with expected spending averaging more than £1,100 on gifts, food and decorations.
- Seventy-eight percent reported their children expect a picture-perfect celebration, with top stressors cited as rising costs (35%), kids’ expectations (28%) and pressure to be perfect (25%).
- To fund festivities, parents reported cutting essentials including clothing (22%), groceries (18%) and heating or energy (10%).
- Four in ten said they are spending beyond their means, and 24% expect Christmas debt to linger into next summer.
- Creditspring’s three-day Home A Loan pop-up in Tower Hamlets offers free borrowing of trees, decorations, tableware and toys, with more than half of parents saying such access would ease pressure and returned items earmarked for local charities.