With Christmas approaching and the winter time adding financial uncertainty and pressure, many families are tightening their belts this year.
New research commissioned by Creditspring reveals that over half of UK parents (54%) are struggling to afford Christmas this year. Even more concerning, two in three parents admit to cutting back on essentials such as food, clothes, and heating to fund the Christmas celebrations, reflecting the ongoing cost-of-living crisis and the high expectations many feel to create a “perfect” holiday reminiscent of classic films like Home Alone.
Almost 41% of parents admit to spending more than they can afford, with the average expected festive spend surpassing £1,100. Alarmingly, nearly a quarter of families may not pay off their Christmas debt until well into the summer months or beyond.
Home A Loan – a pop-up shop to give families festive items for free
Recognising this strain, Creditspring has launched “Home A Loan,” a unique festive pop-up shop in London offering families the chance to borrow Christmas essentials for free.
The Home A Loan pop-uplocated just off Brick Laneis open from today. Here, families can borrow a wide range of Christmas items including decorations, trees, toys, and kitchenware, enabling them to celebrate the festive season without the financial pressure typically associated with it. This initiative draws inspiration from the iconic festive movie Home Alonenow celebrating its 35th anniversary, famous for its extravagant Christmas décor.
Visitors to the pop-up can choose to either return the borrowed items after Christmas or keep them for next year. Returned goods will be donated to local charities, ensuring the spirit of giving and community support extends beyond the festive period.
Creditspring’s Home A Loan pop up in London
Creditspring’s Home A Loan serves as a practical, sustainable solution that encourages smarter spending during the holiday season. It not only helps families create joyful memories without a hefty price tag but also promotes borrowing over buying, aligning with more sustainable and environmentally conscious spending habits.
Admission to the pop-up shop is free and no prior sign-up is necessary, making it accessible to all who want to ease their festive financial worries and bring some Home Alone-style magic into their homes this holiday season.
Home A Loan is open from 9am to 8pm on November 19th and 20th, and from 9am to 6pm on November 21st, located at 137A Bethnal Green Road, London E2 7DG. Admission is free, with no signup required.
For more details and to plan a visit, families can visit Creditspring’s website here.
