We definitely need some Christmas cheer – a whopping 33.7% of Australians say this year’s Christmas will be the toughest they have faced in 10 years, a new survey reveals.
The survey, compiled by serviceseeking.com.au, also shows 50.8% of respondents say the financial crisis has forced them to cut down on entertainment. A huge 61.9% say they will cut back on clothes and luxury items, while 24.9% say they will cut back on groceries.
But it isn’t just luxuries – the survey shows 11.6% have cut back on health care costs and 10.8% on education.
“Many people’s savings have been dramatically reduced due to stock market falls, job cuts, corporate collapses and a year of record high petrol prices,” Serviceseeking.com.au co-founder Jeremy Levitt says.
“Coupled with an uncertain job future for some, it is not surprising people are strapped for cash and will have to be more conservative this year.”
Smart Company is the leading online publication in Australia for free news, information and resources catering to Australia’s entrepreneurs, small and medium business owners and business managers.
