Parents under pressure to deliver ‘perfect Christmas’ for kids – and its costing them

UK families are struggling to afford Christmas this year but still feel pressured to make it ‘picture-perfect’ for their kids

Parents are feeling the squeeze to deliver the ‘perfect Christmas’ for their children – with many pointing the finger at extravagant festive films like Home Alone. Research involving 1,200 mums and dads revealed 54% are battling to afford Christmas this year. However, 78% believe their children are expecting a picture-perfect Christmas due to the unrealistic standards portrayed in films, TV programmes and social media.

As a result, numerous parents are making sacrifices to bankroll the festivities, including cutting back on clothing, the food shop, as well as heat and energy consumption. Worryingly, four in ten are splashing out more than they can realistically afford as a quarter admit they won’t pay off their festive debt until well into the following summer, if at all.

The study was commissioned by Creditspring to mark the launch of ‘Home A Loan’ – a three-day festive pop-up shop where families can borrow Christmas essentials including trees, decorations, tableware and toys for free.

Neil Kadagathur, co-founder and CEO of Creditspring, commented: “We wanted to remind people that the joy of Christmas shouldn’t come with a bill attached.

“Home A Loan gives families a chance to enjoy all the magic of the season, without the financial stress that often follows.”

The study also discovered that parents anticipate spending more than £1,100 on average on presents, food and decorations this year, with 22% planning a budget they cannot realistically maintain.

The rising cost of living (35%), their children’s expectations (28%) and the pressure to create a ‘perfect Christmas’ (25%) were reported as the biggest sources of stress.

Some parents confessed to having to scale back on outdoor decorations like lights (15%), costumes (15%) and even presents (13%).

Over half of parents said that being able to borrow Christmas items would alleviate this financial strain, and nearly half said they’d take up the offer if it was available.

The Creditspring pop-up will be located in Tower Hamlets, East London – one of the UK’s most financially deprived boroughs, where Trust for London data reveals 40% of residents live in poverty.

Borrowed items can be returned after Christmas or kept – with returned decorations donated to local charities to extend festive cheer beyond December.

Tamsin Powell, consumer finance expert at Creditspring suggests the best way to keep Christmas affordable is to plan early and be realistic.

She says setting a budget before you start shopping helps to minimise overspending and buying from charity shops and pre-loved market places can be a lifesaver.

Additionally, she said: “When it comes to food, cook together, share the costs, and focus on the moments that actually matter. The memories, not the receipts, are what make Christmas special.”