Brits worried about cost of Christmas

The cost of presents, parties and entertaining is rubbing the sparkle off the festive season for millions of Britons who are worried about their cash flow at Christmas time.

A new study shows that one in five fear people fear the cost of the season of goodwill. The study, the second “Mood of the Nation” poll conducted quarterly for Tesco Personal Finance, involved 2,000 participants and found that 22 per cent say the financial burden of Christmas will spoil enjoyment of the festivities.

The research shows that it is not just the money worries that will put a dampener on the fun. Twenty eight per cent of people confess that they dread the prospect of Christmas in general—possibly because of the strain the festive season can put on family relationships.

As the winter months stretch ahead, there is another concern on the horizon; 39 per cent say they’re worried about the rising cost of heating bills. Not surprisingly in view of these findings, 42 per cent of people believe they will spend more money over the Christmas period than they have since August.

But it isn’t all gloom over the coming months. The second Mood of the Nation study found thirty six per cent of participants say they are feeling optimistic in the run-up to Christmas, and 53 per cent are undaunted by its economic impact on their purses.
On balance, the nation is more optimistic than pessimistic, with 13 per cent more optimists than pessimists. However this is a far lower balance of optimism than in the summer survey, conducted in August, when there were 20 per cent more optimists than pessimists, suggesting the mood of the nation is experiencing a downward swing.

Says John Trotter, head of Customer Insight at Tesco Personal Finance: “It could be that as we move into autumn, the prospect of the colder winter weather and family tensions erupting over the Christmas period are contributing to the dip. While many people look forward to the end of the year, for others the festive season can be a source of stress.”