Christmas overspend = no money in January!

Research from global payment provider WorldPay has uncovered the ingrained shopping habits that lead us to overspend this Christmas, to the extent that 1 in 4 of us (24%) will completely run out of cash by January!

The research also found that 1 in 3 women (35%) believe they are more generous with their gifts compared to the presents they get from their family & friends in return, a problem for just 16% of men surveyed. Yet for men, the pressure for spend seems to lie at the bar with 1 in 4 (23%) complaining that they buy more rounds of drinks than their friends!

Shopping with children is another area of overspend risk with 1 in 5 parents (19%) reporting that they spent more when bringing their kids along. The research also found that parents are effectively giving their children an ‘open wallet’, with 17% allowing their children to pay for goods online using their card

How much do you think you spend on Christmas – presents, new outfits, parties & get-togethers, the big Xmas lunch?  Will you suffer in January because of your over-spend?  Or do you save gradually throughout the year?  We would love to hear any money-saving tips you may have…

 

 

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