British mums’ confidence in their family finances and quality of life has plummeted 10 per cent to -18 per cent over the last year, according to a new report.
Despite news that the British economy has weathered another recession and returned to positive growth, only 10 per cent of mums feel more positive about the state of public finances with two thirds expecting the situation to worsen further in 2013.
According to grocer Asda’s Mumdex report, which found in July that half of mothers were concerned about covering the cost of Christmas, 45 per cent of 5,500 mums will be reducing spend this festive season with 39 per cent admitting they will spend less on their spouse than they did last year.
Regionally, mothers from Scotland, Wales and the Midlands feel most negative about the future of the economy with 70 per cent in these areas expecting it to experience added difficulty next year compared to 60 percent in England.
However, the boost in national mood following a year of celebrations around the Diamond Jubilee and Olympic Games has boosted optimism as 60 per cent of mums felt proud to be British.
Although only 20 per cent said that the events improved their positivity about the year as a whole, nearly 60 per cent feel that the Olympic legacy will have a positive impact on the country over the next five years.
While financial pressures are a key concern for families, 80 per cent of mums feel that their family’s happiness levels are equal to or greater than their own family’s when they were children and Judith McKenna, Asda’s Chief Operating Officer, believes that Christmas allows families to feel a firm sense of togetherness after a difficult year.
“As we approach Christmas, our Mumdex research shows that mums won’t let their financial concerns impact their families.,” she explained.
“In fact in a year of British celebrations the role of the family has become more important than ever.”