Reduced Christmas spending 'will be blamed on Santa'
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."
Share this..
Related stories
UK government unlikely to extend VAT holiday
The VAT holiday which many people believe has assisted the UK retail sector will end on 31 December 2009 - ending hopes of an extension next year. The move was effectively confirmed with today's government budget figures which showed that £8 billion was borrowed in July, a month which is historically very strong on the tax receipt front. The UK government has already confirmed that the budget def...
Read MoreUK consumers can't do without their holidays
Despite the fact that the UK economy is still struggling and many consumers have found it difficult to fund their Christmas spending, it appears that holidays are top of the list when it comes to the spending habits of UK consumers. A survey by Thomas Cook, the holiday giant, confirmed that an annual holiday is top of the list of the vast majority of the UK population. So how will the holiday sect...
Read MoreThe Secret Chip Fat Fuel Phenomenon
While the company has been going for some time, the national media have only just picked up on a small garage in York which has hit on a goldmine selling used chip fat oil as biofuel. While the fuel is only applicable to diesel vehicles the company has seen demand go through the roof over the last few weeks and is struggling to fulfil demand. The fuel is priced at just under 95p a litre, a subst...
Read More'Tackle bill defaults or miss out on cheaper energy', site warns
Homeowners have been urged to tackle defaults on their energy bills or risk missing out on the chance to make savings in future. Under existing rules, customers who fall behind with their payments for gas and electricity are prevented from switching provider. This means that they could miss the chance to secure a cheaper deal from an alternative energy provider. Sean Gardner, founder of MoneyExper...
Read MoreFSA reconsiders worst-case scenario stress test for banking sector
Just a few months ago the Financial Services Authority (FSA) had a plan in place to test the strength of UK banks and UK financial institutions in the event of a nightmare scenario. The FSA had assumed a worst-case scenario of a peak to trough reduction in GDP of 6.9% as a means of testing banks in a situation that was unlikely to arise. However, the recent recession brought a peak to trough reduc...
Read More