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Almost a third of UK families worried about Christmas costs

Almost a third of UK families worried about Christmas costs

Some 31% of families with children are concerned about costs associated with Christmas, according to research conducted by savings and ISA provider Scottish Friendly.

The report – part of Scottish Friendly’s latest Disposable Income Index, compiled in conjunction with the Social Market Foundation –revealed that overall more than one in five of UK households (22%) are concerned about these festive costs.

It was found that the median household has £990 per month left after paying for essentials such as housing, energy, water, groceries, transport, childcare and broadband internet.

Geographically households in London and the North-East were the most concerned (both 29%), while those in the 25-34 age bracket showed the greatest level of concern regarding Christmas finances (35%).

Calum Bennie, savings expert at Scottish Friendly, said: “Christmas is all about giving and people understandably want to spend money on the people they care about.

“However, there is a hidden side to the celebrations.

“The stress caused by festive financial anxiety shouldn’t be underplayed and many households have to work hard to make sure they don’t over stretch and leave themselves in debt when the celebrations end and the new year rolls around.”

See the full index below:

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