Majority of consumers 'can afford Christmas'
20 December 2011 14:00:44
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| Vouchers and discounts are helping Britons to pay for Christmas. |
Researchers found that 71% of people who are buying gifts this year have enough money in their bank accounts to pay for all of their presents.
This is largely down to Britons' penchant for a good bargain, with 54% of respondents revealing that they are making the most of sales, multi-buy promotions and vouchers.
Young people seem to be particularly savvy in this respect, with 63% of 25 to 34-year-olds relying on sales and promotions and a similar proportion of 18 to 24-year-olds making their own Christmas presents in order to save money.
This can be a useful way to reduce the pressure on bank account balances, according to Rob Wood, head of Halifax Savings.
He said: "Christmas can be a tough time financially for families and advanced planning and saving is the best way to ensure there is enough money to go around for all the extra costs.
"Many families are ensuring they get value for money when buying gifts through the use of vouchers, sales or even making their own Christmas presents. This will see their hard-earned savings being able to take them through the holiday period without getting into debt."
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