The cost of living crisis is causing enormous stress across the country, a new study finds.
The poll also found just 15 per cent of adults believe this Christmas will be better than the last when Covid restrictions were in place.
The Credit Union Consumer Sentiment Index has found for the first time that more people say they feel stressed than those who say they feel happy.
And in a special report on how consumer confidence is affecting people’s Christmas plans, the survey, conducted by Core Research, found less than a sixth of people believe this Christmas will be better than last, as restrictions are put in place to curb the spread pandemic were in effect.
“This is the first Christmas in two years that people should be free to celebrate and enjoy together with family and friends.
“However, only 15 percent of people believe that Christmas this year will be better than last year. This Christmas, household budget restrictions will replace Covid-19 restrictions,” the study reads.
One in two plans to spend less money this year, and one in two plans to buy fewer gifts.
Before Black Friday on November 25, the majority (62 percent) of adults will have started their Christmas spending.
According to Core Research, this will indicate that people are more likely to spread and budget for their holiday shopping this year to avoid spending the bulk of the money at once.
Amazingly, almost one in ten people claim they don’t want to spend any money on Christmas this year.
Compared to the summer months, there has been more focus on socializing, dining out and vacationing to reduce household spending.
The survey, conducted Oct. 4-13, found that 63 percent believed the household did not change their circumstances or make their situation worse.
For the first time in the survey’s emotional tracker, more people say they’ve experienced stress than those who say they’ve been happy.
Most positive emotions (joy, hope, and contentment) have decreased since July, while negative emotions (including sadness, fear, worry, and anxiety) have increased.
https://www.independent.ie/business/personal-finance/stress-of-cost-of-living-crisis-laid-bare-as-just-15pc-of-people-believe-this-christmas-will-be-better-than-last-year-42139582.html The stress of the cost of living crisis has been laid bare as just 15 percent of people believe this Christmas will be better than last year