Christmas and the Cost of Living Crisis

How to keep the Festive Cheer with budget cuts and price increases

Spare a thought that around four million adults will use credit to pay for Christmas this year. Of those, 60% expect to borrow more than last year due to the cost-of-living crisis. Plus, over 40% of those using credit will take over six months to repay it and for some – it will take a year. For many families Christmas is a time of stress and financial juggling, the pressure of delivering a magical family time very real. In this blog we look at how Christmas and the cost of living crisis can be managed.

Saascoms Experience

At Saascoms we develop award-winning contact centre software which is relied upon by debt collection agencies around the globe. We understand that during most people’s lives they will encounter financial hardship at least once. Christmas is a time for family and celebration – but not worth getting into debt for.

Our Resolution platform is a self-serve debt management portal which enables customers in debt to manage repayments. It also enables customers to conduct income and expenditure checks before setting repayments – to further help with repayment plans.

Our Christmas Tips

• Set an affordable budget and stick to it.
• Look for preloved, nearly new and refurbished gifts to save money.
• Take a tip from Martin Lewis and agree with friends and family not to buy gifts for each other if you can’t afford it.
• Prioritise essential bills.
• Shop smartly across different supermarkets taking advantage of all the offers.
• Don’t buy too much food! If you do then freeze it, don’t throw it!
• If you go ‘out out’ take cash – then you can’t overspend.
• Christmas lasts a few weeks, think about the rest of 2026.
• Buy presents that are redeemed next year – for instance reveal the family summer holiday on Christmas Day. It still feels like a gift, even if it’s in the future.

Happy Christmas

Christmas and the cost of living crisis need not spoil the festivities, either in the run up or the new year hangover. By setting a few sensible rules most families can enjoy a happy Christmas, focused on spending quality time together – not spending on credit.