Action for Children, which supports Holly, said rising prices were putting pressure on young people and families, especially around the Christmas period.
A YouGov poll found more than one in four people – equivalent to around 14.5m – would struggle to afford Christmas this year, a rise of 1.6m people since last year.
Richard Lane from the debt charity StepChange, which commissioned the poll, said: “People may feel pressured to make Christmas with their loved ones special through gifting and spending money.
“However, we know all too well that the repercussions of relying on credit over the festive season can rear its head in the new year.”
Action for Children said one in seven young people feared their parents wouldn’t be able to pay household bills because of financial pressures.
And that more than three quarters of teenagers in the south are worried about how their parents or carers will afford Christmas.
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