The True Cost of Christmas

Christmas

Christmas is supposed to be a time for joy and celebration, but at what cost? It’s perhaps the most demanding time of the year financially as every one of us is encouraged to spend our earnings across a sustained period – from early Christmas shopping endeavours to Christmas social events, gifts for family, friends and co-workers, transport, decorations, food and more.

Our Hastee Christmas 2018 Research revealed that the cost of Christmas leaves workers five times more likely to use high-cost credit in January compared to December. What became clear was that workers across all salary levels lack the financial education and support they require to get through the most financially demanding time of year without borrowing from high-cost credit sources and putting themselves into debt. This year we’ve repeated the survey and have focused on the impact that Christmas related financial stress has on people while they are at work.

With the UK in its current productivity slump, it’s important for employers to understand the factors. You can read our Christmas 2019 report here. 

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