Britons Worry More About Finances Than Family This Holiday Season

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65% of Britons cite Money and Finances as their number one worry this holiday season. This year, Britons are more concerned about money than about their families or their health. 79% of Britons state that they have reduced their holiday budget due to the credit crunch.

Money worries have eclipsed Family concerns over the Festive Season.

Katie Jenkins of SimplyFinance.co.uk said, "It's sobering to see that money worries have eclipsed family concerns so dramatically over the holidays, especially considering that this is traditionally seen as a family-focused time”.

More people are worried about their finances than their families over the holiday period, according to research by consumer finance website SimplyFinance.co.uk, carried out in association with the national money education charity, Credit Action.    

When asked the question 'What do you worry about most over the Holidays?', 65% of respondents chose 'Money and Finances'. Family worries, which include family health, arguments and entertainment, were mentioned by just 17% of participants, with 5% each choosing 'Health' and 'Work'. 'Other' was chosen by a further 8%.

The survey, sent out to 300,000 consumers, found that people worried more about money than about all other factors combined. It also found that 79% of people are cutting back on their spending due to the credit crunch, with 49% stating that they had done so ‘significantly’.

Katie Jenkins of SimplyFinance.co.uk said, "It's sobering to see that money worries have eclipsed family concerns so dramatically over the holidays, especially considering that this is traditionally seen as a family-focused time”.

Miranda Keymer at Credit Action commented, “Whilst it is perhaps not surprising that money worries should be occupying many people’s thoughts at this time of year, the extent to which it has become a preoccupation highlights more than ever the necessity for budgeting and careful money management”.

For further information, please contact Katie Jenkins at SimplyFinance.co.uk on 0203 1594170 or Katie.jenkins(at)simplyfinance(dot)co(dot)uk, or Miranda Keymer at Credit Action on 0207 3803396 or mirandakeymer(at)creditaction(dot)org(dot)uk.

Notes to Editors:

SimplyFinance.co.uk is a personal finance website that exists to help consumers manage their money more effectively. SimplyFinance.co.uk provides a range of informative content, tools and calculators to empower consumers to make more informed financial choices.

Credit Action is a national money education charity (registered Charity No.1106941) established in 1994. It aims to teach people to manage money better and prevent over-indebtedness and uses a wide range of resources to this end. Credit Action also campaigns to encourage greater understanding of the need for more financial education and literacy. For those with debt problems, Credit Action offers a helpline through Consumer Credit Counselling Service, the UK's leading debt charity.

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