This year as many as 5.5million UK parents may need to sell items owned by their children in order to afford costs and expenses associated with the festive season
A staggering one in 10 parents might be pushed to sell their children’s belongings just to scrape through this Christmas.
Nearly a third confess that the festive season will hit their wallets harder than ever this year, according to a recent survey.
The survey shows there is a growing concern over soaring utility bills and recent tax hikes. But for three-quarters of those polled they said the overarching issue is that ‘everything is more expensive.’
Although a number of parents are preparing to spend less on gifts to minimize spending they still anticipate owing £343 in debt following the festive period – with only half hopeful of settling it by June.
Consequently, a number of parents are resorting to selling second-hand goods in a bid to drum up extra cash. This includes items they’d rather keep like clothing, gaming consoles, and even mobile phones.
This trend of reselling items has spiked according to findings from Gumtree, which commissioned the research.
Gumtree’s consumer expert, Hannah Rouch, said: “We know that the reality for millions of families is that there is a very real pressure on finances and budgets over winter and the festive period.”
The online marketplace has noted a 5% boost in ‘Baby toys’ listings whereas ‘nursery furniture’ has seen an uptick of 15%.
In addition, gym equipment has also experienced a 6% increase in listings as Brits rummage around their homes to sell items they may not be using regularly.
And listings for ‘women’s jackets’ and ‘kid’s jackets’ have seen a rise of 12% and 8% respectively.
“Our latest research has shown that people are looking to sell goods to make ends meet and we are concerned that the Government’s announcements do not go far enough to help working families” she adds.
“We implore the Government and decision-makers to seriously consider how to better help parents and children get through this winter.”
“While we are here to help people sell their goods, and find cheaper alternatives, we are also sharing resources for families who are struggling.”
