Christmas On Credit

“Was Santa good to you this year?”. The words every child is asked at Christmas time, the answer to which can only be yes in the eyes of their parents. Who just want to do best by their children by any means necessary and that can sometimes land them in trouble.


Financial trouble, at Christmas time, is always a tough time financially but for some families it can be far tougher and the rest of the new year can also become a struggle too.

In a recent channel 4 documentary, “Christmas on Credit”, these problems are addressed and explains just how difficult the Christmas period can be for Britain’s poorer families. 

It opens with statistics claiming that 11% of British families are still paying off money that they borrowed for Christmas 2012, 93% feel that they are under pressure to spend too much during the festive period and around 15% of British adults plan to take out a loan for this year. 

Perfection is strived for so nonchalantly that the struggle that follows can be very harrowing, but it is kept aside until the new year then the worrying truly begins.

Around seven million people will borrow money this Christmas and four million of that will borrow just so that they can provide their families with a good hearty Christmas dinner. 

For one of the families interviewed in the documentary, the loan taken out for 2012’s Christmas has still not been paid off and are planning on taking out another loan on credit to pay for this year. At a nationwide average of £822, though, does it comes as any surprise that debt will arise for those on benefits who struggle to make it through the week let alone Christmas.

Loans on credit that have been given out last Christmas and have failed to have been paid will result in lower credit scores, meaning that loans this year will be declined. This will mean that this Christmas will be difficult but if you can scrape by then great, but what about next year?

The stigma of the whole idea and pleasantries of Christmas dull down the negative thoughts of the repayments are kept at bay because seeing the smiles on their children's’ faces is worth it.

However all of this being said, what are your thoughts? Do you think that Christmas has been over-hyped and become the source of anxiety amongst many British households? Obviously it is a great festive time that should be full of joy and time with your family, but should it cause so much strain on people? 

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