SIX in ten North-East households are making significant financial sacrifices in order to buy Christmas gifts, figures reveal.

Many of those with children are relying on credit to fund their purchases, while some families are delaying rent, mortgage or household bill payments

The latest Disposable Income Index published today by ISA provider Scottish Friendly also found a third of families in the North-East (32%) feel pressure to create the perfect Christmas, while two in ten households (23%) delay paying household bills, take out a personal or payday loan or increase spending on credit cards to meet the cost.

The pressure to have a perfect Christmas is keenly felt in the region and comes from a range of sources including other family members (38%), friends (25%), TV advertising (54%), retailers (17%) and social media (29%).

With this perceived pressure affecting many Brits, more than three quarters (76%) of UK households with children say they make some form of financial sacrifice to buy Christmas presents, compared to just 45% of those without.

The quarterly report, compiled in conjunction with leading think-tank the Social Market Foundation, shows the median North-East household has £852 left each month after paying for absolute essentials.

On average Brits anticipate spending £342 on presents with £303 going on credit cards and most people will take until April 2018 to pay off their Christmas debts.