Brits Can't Afford Christmas Presents

Wed, Nov. 28, 2007

According to Life Assistance Firm CPP a third of people questioned have suffered from severe financial problems in the past that they have been unable to buy any Christmas presents for their loved ones. The survey claims one in ten people admit to turning up on Christmas Day empty handed, with many making homemade presents instead.

Approximately half those who took part in the study have told friends and family that their presents will arrive late. The study also claims the lack of funds during the festive season causes a huge amount of stress for people, leading to seriously negative effects on health. Three quarters of people are already dreading Christmas because of the financial constraints it puts on them. For two thirds of people this stress spirals into their working lives too, claims Life Assistance Firm.

Presents aren't the only cause for concern at Christmas; a half of people surveyed worried about whom to spend the big day with. One in ten people would prefer to spend it with friends rather than family and 6 out of 10 would prefer to go away to escape the hassle all together. "While the Christmas period can be stressful in terms of filling stockings, don't take your eye off the ball when it comes to the security of your bank account and personal details," warns Nick Jones, Communications Manager at CPP.

“Debit, credit and online spending are all estimated to increase this Christmas and people should make sure that they protect and safeguard their personal information during the festive season. Filling stockings is a priority, but do it safely." Additionally, experts are worried for retailers this Christmas as the effects of the recent credit crunch and rise of inflation may also decrease the amount consumers spend this Christmas. Appl for Christmas cash loans here.

Source : http://www.financedaily.co.uk/