How will co-parents feel financial stress during the Christmas holidays?

As the festive season approaches, many families will begin feeling the financial burden of the Christmas holidays, but for separating families that pressure can be even more intense.

From managing gifting between multiple households, organising where children will be staying over the holidays as well as booking festive activities, the financial demands of Christmas can quickly escalate. But how will co-parents and single parents feel financial stress during the Christmas break?

Earlier this year, national law firm Slater and Gordon carried out research to explore how separated households navigate the summer holidays.

During the summer holidays, 80 per cent of respondents agreed that the six-week period is a financially stressful time and there is no doubt this will also be felt in the upcoming festive period under the pressure of the cost-of-living crisis.

Amongst the insights across 1000 single or divorced parents, many found themselves making cost-saving decisions to afford childcare and entertainment during the summer season; with just over 30 per cent cutting back on saving contributions and 39 per cent avoiding personal spending habits.

Under financial burden, co-parents may find themselves seeking financial support from their parental counterpart to overcome summer expenses where concerns continue to raise looking ahead towards the Christmas period. During Christmas, emotional stress may heighten with the added costs of gift-giving and winter utility usage.

For one in five parents, they admitted feeling pressure to outspend their co-parent, from entertaining their children with fun activities, trips and eating out which may also continue during Christmas time.

“During the cost-of-living crisis, there is no doubt that financial pressure will ultimately be felt during Christmas, especially for co-parents or single parent households,” says Andrew Ormrod, Senior Associate and Family Solicitor at Slater and Gordon. “However, there are ways to lessen these financial pressures felt between both parties and allow for separated families to still enjoy the Christmas period.”

“Communication is key between both parties, from planning ahead before the Christmas holidays to during the Christmas holiday to keep things organised. It can be a very busy time, therefore openness and willingness to compromise is essential.”

“In hand with this, setting financial boundaries can also be beneficial to ensure that both parents are spending similar, fair and comfortable amounts towards their children. This allows both parents to feel like they are contributing without the feeling of financial pressure.”

“Ultimately, it is a shared priority for both parents for their children to make sure they enjoy time with both households and understanding what their needs are during the holidays. Their wellbeing should be at the centre of all decisions.”

“If there are difficulties and decisions cannot be made, a family solicitor can help find solutions for co-parents during the Christmas holidays, such as financial planning through child arrangement orders.”