Early festive savers enjoy less anxiety and a boost to wellness, finds study from Park Christmas Savings
LONDON, Feb. 24, 2022 /PRNewswire/ -- A new study has found that spreading the cost of Christmas is not just good for your pocket but for your well-being too.
The study from Park Christmas Savings comes as UK households face unprecedented financial burdens in the year ahead - rocketing energy bills, a rise in interest rates, a National Insurance increase and the cost of living going up.
Park looked at how planning ahead for one of the biggest expenses - Christmas - could ease some of the strain faced by millions of families.
By spreading the cost of Christmas throughout the year, Park customers - recognised to be among Britain's savviest early festive savers - reaped a better sense of money management and positive impact on their mental health.
Saving with Park is free and customers can deposit as little or as much as they can afford weekly or monthly, receiving the final amount in handy vouchers or gift cards before Christmas.
Park commissioned a YouGov poll comprising of 2,000 people alongside an identical poll of 8,900 Park customers.
Twice as many Park customers (49%) revealed they avoid feelings of "financial panic" by planning ahead, compared to 24% of the public.
Over twice as many Park customers (36%) shared they avoid feelings of 'overwhelm and depression' by saving ahead, suggesting their decision has a positive impact on mental health.
Park customers were also the least stressed in the run up to Christmas 2021, with nearly a third saying they were not stressed at all, compared to 16% of the general public.
Compared to 20% of the general public, 44% of the Park customers revealed they avoid debt and overspending by spreading the cost.
Both Park customers (57%) and the public (52%) had similar results in terms of how saving ahead for Christmas brings a sense of pride and organisation.
Katherine Scott, marketing director at Park Christmas Savings said: "We recognise UK families are facing increased financial challenges this year and every penny counts. Spreading the cost clearly brings peace of mind.
"A new customer starting in March, putting away £11.43 weekly, will have a £400 by the time Christmas comes around - taking the strain off finding funds in the run-up to December."
To find out more here: www.getpark.co.uk
Logo: https://mma.prnewswire.com/media/1753538/Park_Christmas_Savings_Logo.jpg
Photo: https://mma.prnewswire.com/media/1753539/CWMedia_Image.jpg
