One in three consumers shopped ‘blindly’ this Christmas – by not checking their bank balance before, during or after hitting stores and retail websites according to latest research by Asda Money
Despite 77 percent setting a typical budget of £539 the study of 2,000 adults found overall one fifth spent more than they intended to.
The research also found 27 percent said having enough money is one of their biggest worries as the big day approaches.
Matt Collinge, head of cards and lending at Asda Money, said: “Despite it being an annual occasion, the cost of Christmas and how to pay for it tends to be a big worry at this time of year. There is a lot of pressure to get it right, and there is so much to think about – the food, gifts, decorations and more.”
“So it’s understandable we might feel a little overwhelmed and sometimes sweep the costs under the carpet.”
One-quarter of people start Christmas shopping six to eight weeks prior to 25th December. But 29 percent are still trying to finish buying everything this week, with 45 percent revealing they simply haven’t had enough time to do it sooner.
However almost one in 10 have relied on credit and store cards to cover their festive spend.