A new poll has revealed nearly a third of those in the North East will struggle to afford Christmas this year.

The YouGov survey, commissioned by StepChange Debt Charity, found that 29 per cent of those living in the region will struggle to fund this year’s holiday.

The report also said that 13 per cent of those in the North East will have to borrow credit to afford the festive season, while eight per cent are still paying off debt from last Christmas.

It added that those who are relying on credit to fund Christmas attributed the need to the higher cost of living – with 75 per cent citing this as their reason to borrow.

Vikki Brownridge, CEO at StepChange Debt Charity, said: “People understandably feel pressured around Christmas time to spend money to create special moments and memories with their loved ones.

“However, this pressure can often encourage people to spend more than they can afford, and turn to credit to cover these costs.

“Against a backdrop of almost two years of high inflation, it’s very likely that relying too heavily on credit at Christmas could lead to debt problems in the New Year.

“At StepChange, we see some of our busiest days during January each year, with last January being our busiest month for several years.

“We would urge those who are thinking about borrowing to cover festive costs to always carefully consider whether those credit repayments will be comfortably affordable when the New Year comes around.

“Many adverts around this time of year imply that spending is the way to create a happy Christmas, but in reality, people would prefer their loved ones to be free from financial worries and problem debt.

“If you are struggling with debt now or in January and beyond, it’s never too soon to reach out for help.”

The charity said the number of people going using its debt advice service had risen by more than 10 per cent year on year. 

It said this January was its busiest month for more than two years, with the charity seeing a 32 per cent rise in demand compared to January 2022.

It is urging people to reach out for support if they’re worried about their finances this Christmas and has produced three tips to help those in need.

Most read:

Black Friday Sale! Grab our digital subscription for just £6 for six months. Limited time only

It said:

  1. “Go through your budget to look at what you can realistically afford to spend over the festive period. This is a really helpful way to identify how much money you have spare to go towards Christmas planning. StepChange has a step-by-step guide to help you create a budget and create a clearer picture of your finances.”
  2. “Keep your eye out for deals or offers on items you know you want to buy this Christmas, but don’t get drawn into buying things you didn’t need in the first place – a deal is only a deal if you were going to buy it anyway. Making a list in advance of your Christmas shopping may help you to stick to it and prevent you from buying extras you may not need.”
  3. “Think carefully before you borrow money - try not to get drawn into short-term high-cost credit, or options to buy now and pay later if it’s not affordable. If it’s going to take many months to repay what you borrow to pay for Christmas, it’s worth pausing for a moment to think about whether your friends and family would really want you to suffer financially as a result of your generosity.”

Free, confidential debt advice is available 24/7 using StepChange’s online debt advice service here.