Families concerned about the cost of Christmas

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A third (31%) of families with children are concerned about the cost of Christmas, Scottish Friendly’s disposable income index has revealed.

Households in London (29%) and the North East (29%) are most worried proportionally, while those in Yorkshire (15%) are the least.

The average British family spends around £800 on Christmas according to the Money Advice Trust’s National Debtline but the median household has £990 per month to spend or save after essentials like housing, energy, water, groceries, transport, childcare and internet.

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.”

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Written by: Houseladder