Britons are reducing the risk of falling into debt as a result of Christmas by considering making their own presents for their friends and family, it has been revealed.
According to Principality, 54 per cent are happy to give something they have crafted as a gift, such as art or an item of clothing that has been knitted or sewn.
And 29 per cent stated they would give second-hand products if they believed it would go unnoticed.
Marketing director at the building society James Wright said: “It’s great that people are coming up with innovative gift ideas that will actually help them save money this Christmas, reducing the likelihood of a financial hangover in January.”
The firm recommended several websites for inspiration for homemade presents, including Knitting On The Net and Inspired-by-chocolate-and-cakes.com.
ClearDebt marketing manager, Jacqueline Cohen also commented on this issue.
“Through our blogs, we’ve been advising people with debt to look at making gifts for Christmas,” she remarked, adding that these can often be “more meaningful” to the recipients and can help “save hundreds of pounds at such an expensive time of year”.
“Christmas used to be about family and the effort we made to make people feel special, rather than how much money we spent and how big the gift was,” Ms Cohen continued.
By Sarah Adie