After a year of scrimping and saving as households absorbed the impact of the recession, it appears Christmas is set to see the purse strings loosened once more.
Recent research suggests each adult in the UK will spend around £300 on presents this year, as the hard times of the previous 12 months are pushed firmly to the back of people’s minds.
While those receiving the gifts are likely to be mightily grateful, the considerable sized hole that will be left in the gift-givers savings is a worry.
Indeed, a third of savers admit they are likely to spend almost 10% of their savings to help cover the cost of their festive generosity.
It is unclear whether savings pots will be replenished once the festive season has passed, but there is a chance that post-Christmas economic blues could start to hold back the recovery. Continue reading ‘Savers Splash Out For Christmas’ »