Credit, Collections & Insolvency News
New research from financial wellbeing business Loqboxr has revealed a major shift in how families are approaching Christmas this year, with four in ten planning to buy fewer gifts and a quarter saying the season has become ‘too materialistic.’
Rather than these changes taking the shine off the season, this shift shows families are choosing celebrations that feel more meaningful and less pressured. When asked what truly makes the season special, only 7% chose gifts, compared with 63% who said quality time with loved ones is what really matters.
The survey of UK adults highlights how we’re adapting our celebrations this year to balance joy, time together and thoughtful spending with 41% are buying fewer gifts, and 40% are choosing more budget-friendly options. 40% say the rising cost of presents, food and travel “takes the shine off Christmas”
Whilst six in ten don’t set a Christmas budget – perhaps explaining why 57% rely on credit cards, loans or Buy Now Pay Later to cover costs. One in three hosts spends more than £200 on Christmas meals, compared with just one in five non-hosts
Despite the financial pressure, people aren’t simply cutting back; they’re adapting. One in four are trying new traditions such as Secret Santa, homemade gifts, or preloved presents. More than a fifth are scaling back social plans to focus on time together, and around six in ten say time together is more important than presents.
The research also reveals how differently adults prepare for December. While a third save all year-round, 28% only begin planning in mid-October, and 16% admit they ‘buy now and worry later.’
For hosts, the financial load is even heavier. Almost one in three save year-round, and nearly one in five plan to spend over £500 on gifts – almost twice the proportion of non-hosts. Despite this, 58% say the excitement and family time make the pressure worth it.
Tom Eyre, CEO and Co-Founder of Loqbox, said “Christmas has always been about being together, and this year people are reconnecting with that. The real magic isn’t under the tree; it’s the quality time with family and loved ones that makes Christmas special. People aren’t cancelling Christmas, they’re thinking outside the present box.
“Financial pressures are real, but what we’re seeing isn’t people giving up on Christmas. They’re making it more intentional. Spreading costs over the year, setting clearer budgets, and choosing meaningful traditions over expensive ones. It’s not about doing less, it’s about doing what actually matters.”
“One respondent put it perfectly when they said ‘It’s more important to have presence around the table than presents under the tree.’ That’s what matters this Christmas – not how much you spend, but who you spend it with and the memories you make together. Thoughtful gestures and shared time will always mean more than any price tag.”
