Even though a third of parents are still paying off debts from Christmas 2016 they will still use credit cards to pay for this year’s festivities, a Yuletide debt survey found. As we see Christmas Madness kick in early with the awakening of ‘Black Friday’, the pressure mounts.
Christmas Madness is due to take its toll and see families further struggle as we approach 2018. A recent survey established an average spend of £353 on Christmas present alone, found the poll of 5,000 British parents for the Parentdex report.
The average spend from December through to the New year is a total sum of £812. This includes some of the following;
• £259 on children’s gifts.
• £218 on food and drink.
• £177 on family day’s out & travelling to family an friends.
Single parents are most likely to still be paying for 2016’s Christmas presents – 42% compared to 30% of married parents. Family’s will donate an average of £14 to charities and spend an extra £46 on gas and electricity.
Average spend on children over Christmas
• Parents with one child spend an average of £316.
• Parents with two £350.
• Parents with three £412.
• Parents of four or more youngsters expect to cough up £514.
Christmas has always been an expensive time of the year and 2017 will be no different, especially with the recent changes and cuts to benefits.
Financially over committed? You can look at your entitlement of benefits at https://www.entitledto.co.uk/
In financial difficulty, then please don’t hesitate to get in contact with us https://moneyworrieshelpline.com/
If you wish to keep up to date with the Money Warriors, feel free to follow us at:
Author: Natasha Parrott
I am aware we will not be able to save everyone BUT if we can at least save 1 family, if those parents teach their children and so on for generations to come; we have achieved our mission.