Some credit crunched families are looking to buy less pricey presents for their families this year - and are blaming Santa Claus in the process.According to new research from Netmums.com, 44 per cent of mothers are planning to blame St Nick's belt-tightening - rather than their own - for the cut-price gifts.The website also found that 49 per cent were planning to maintain their current spending levels on kids' gifts despite the financial downturn, the Press Assocaition reports.Siobhan Freegard, Netmums.com founder, warned this group that they could run up unsustainable debts in their pursuit of the perfect Christmas."Of course we know many families are having to cut back this year, but we are urging mums not to feel guilty about this and, crucially, avoid the temptation to go into debt," she said."Instead, why not use the credit crunch to remind ourselves that Christmas should be about magic, miracles and imagination and not about adding up the value of the contents of Santa's sack."

»» Return to Homepage

»» Full Household bills News Archive

»» Household Budgeting