As the festive season approaches, a growing number of Brits are adopting creative strategies to navigate the financial challenges associated with Christmas, according to a recent survey of 2,000 UK adults. The study, commissioned by Iceland to celebrate its Bonus Card, unveils a range of money-saving tactics that citizens are employing to ensure a joyful yet budget-friendly holiday season.
Worries about insufficient funds during the festive period have gripped 31 percent of respondents, prompting eight in 10 to proactively adopt money-saving measures. Among these measures, buying frozen foods, utilizing online vouchers, and procuring gifts well in advance emerged as popular choices. The survey also highlighted unconventional yet effective methods such as crafting homemade gifts and sourcing treasures from charity shops.
The financial prudence seems to be paying off, with the average Brit estimating savings of £217.94 over Christmas by implementing these resourceful strategies. Signing up for loyalty schemes, selling unwanted items online, and participating in car boot sales are additional avenues respondents explored to supplement their income leading up to December 25th.
Iceland’s Bonus Card, featuring a ‘load and save’ function, played a pivotal role in assisting shoppers to set aside funds throughout the year for Christmas expenses. The card’s unique offering allows users to save £2 for every £20 deposited, a generous boost available from October 29th to November 18th, enabling consumers to further stretch their holiday budgets.
The survey disclosed that 28 percent of respondents felt better financially prepared for Christmas, attributing it partly to their ability to make their money go further. Despite the financial foresight, a concerning six in 10 admitted to overspending during the festive season, with 80 percent acknowledging that their expenditure on gifts tends to be excessive.
Food emerged as a major splurging category, with half of respondents confessing to getting carried away with culinary delights. A third admitted to overspending on beverages, while one in 10 found themselves going overboard on festive decorations. The research suggests that a lack of financial resources has marred the Christmas experience for 28 percent of respondents in the past, motivating them to adopt cost-cutting measures.
Interestingly, 38 percent of respondents revealed a love for devising inventive ways to save money during the festive period. Some individuals cited disappointing Christmases in the past as motivation, with 25 percent planning to balance their budgets by selling unused items for extra cash. Notably, one in 10 respondents had previously taken on a second job solely to cover the costs associated with the holiday season.
Intriguingly, the research revealed that forward-thinking individuals are already leveraging January sales to buy presents for the next Christmas, showcasing a strategic approach to easing future financial pressures.
Neil Hayes of Iceland acknowledged the financial strain that Christmas can bring, expressing pride in the brand’s ability to support shoppers in planning their Christmas spending well in advance. The Iceland Bonus Card, with its enhanced savings offering, is a testament to the brand’s commitment to helping customers navigate the financial demands of the festive season.
As the holiday season unfolds, it’s evident that Brits are not only embracing the joy of giving but also the art of financial ingenuity to ensure a Christmas filled with warmth, celebration, and fiscal responsibility.