Itís a prospect that nobody will look forward to, however, over a quarter of UK households will be waking up to find nothing but an IOU under the tree this Christmas.
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One way to kill Christmas cheer instantly is to present your loved ones with an IOU, yet a staggering 26% of cash-strapped couples and families are doing just that.
The latest research from uSwitch, the price comparison website, found that Christmas will be put on hold this year for many as they wait until the January sales to purchase gifts.
Ann Robinson, Director of Consumer Policy at uSwitch.com, says: “Many of us will be feeling the pinch this Christmas. But on top of the financial burden, we’re fed-up of seeing the gifts that we have struggled to afford going into the bargain bucket just a few days after Christmas when the sales begin.î
The research found that 26% of Brits are considering giving loved ones an IOU this year, and 39% of those brave enough to hand over a note are doing so because they simply canít afford Christmas presents.
Hard up consumers looking to ëbag a bargainí are making loved ones wait for their post Christmas gifts. However, by doing so, the savvy shoppers will save an average of £40 by waiting to buy gifts in the sales.
Almost one in three people are so frustrated with the pricing difference between Christmas and January that they are considering giving an IOU because of it.
“In the eternal quest for a bargain, savvy consumers are choosing to put the gift buying on hold until they can take advantage of the sales. While this may keep our bank managers happy, some of us may be concerned that our loved ones could be less than impressed.î
Nearly nine in 10 people have seen the gifts theyíve purchased reduced in the sales and they believe they could have been £100 better off if they bought them in the sales. One way you could ensure that your loved ones get Christmas gifts and you save money is by shopping 12 months in advance.
Alternatively, you could open a savings account and start early.
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