Families 'plan to cut back' on Christmas spending

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Families 'plan to cut back' on Christmas spending

Fri 11th Dec 2009

Families across the country are planning to cut back on how much they spend on Christmas this year.

According to uSwitch.com, parents are readying themselves to spend less money on gifts and modern gadgets, focusing instead on getting more traditional presents for their children.

Up to 78 per cent of people are looking to find bargain gift this year, with 45 per cent of those surveyed saying they are going to spend less on food and drink over the holidays.

Ann Robinson, director of consumer policy at uSwitch.com, said many families have pre-planned what they are to spend in order to avoid any financial strain into the new year.

"Crucially, many households have heeded the lessons of the last year and have scrimped and saved, set budgets and agreed spending with friends and family," she added.

In October, the financial website warned consumers to be wary of interest rate cuts on their savings account and to shop around if possible for a better deal.

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