Christmas? Bah humbug
Published On 5 December 2006
A large number of families view Christmas predominantly as an excuse for shops and businesses to exploit and their credit cards them rather than being a time to bestow goodwill to all men, according to a new poll.A study by F&C Asset Management has found that 17 per cent of people believe that Christmas is an excuse for companies to get them to buy things and for many, these expenses will be keenly felt.
Around 17 per cent of parents and grandparents expect to fund their Christmas shopping through taking out a loan or by putting their payments on to a credit card that will take more than a month to pay off.
"For a significant proportion of families the festive season represents financial hardship," explained Jason Hollands, the head of communications at F&C Investments.
"As a consequence, there is an undercurrent of cynicism towards Christmas."
Parents are being advised to consider putting some of their Christmas shopping money towards children's saving schemes, to help fund expenses later in life.
