The Cost Of Christmas Concerns Consumers
As the Christmas season approaches, a significant number of Britons are worried about how they will manage their money.
It was revelaed that 45 per cent of those questioned by CreditExpert, that consumers have concerns over the extra expense involved over the Christmas period and what the impact will have on their spending. It has also been reported by the credit file company, that four in ten Brits are planning to spend less money on presents than they did in 2007, in order that they manage their money over the Christmas and new year period. This shows that consumers are looking to spend an average of 301, that's 22 per cent lower than the 384 spent in 2007.
It may be possible that such concerns about getting a grip on spending are made even more dramatic due to the current financial climate, as some 53 per cent of people report that the credit crisis is causing them to struggle more when it comes to managing their money.
To cover the cost of Christmas, securing a cheap loan may be an option, to help cover the cost of Christmas. It has been reported that 23 per cent of Britons will be raiding their savings, while 12 per cent are hoping to secure a pay rise or looking towards doing overtime to meet various expenses in the run-up to Christmas.
Meanwhile, just over a quarter of those surveyed state that they are going to celebrate this Christmas in the manner that they have always done and will only think about the financial consequences of doing so in the new year. However, it could possible that on January 1st they wake up to a financial hangover which leaves them developing problems in managing repayments on personal loans, credit cards and household bills.
The study also showed that some 39 per cent of people are set to recycle old presents, by giving old or unwanted gifts they received in previous years to friends or family members. Jim Hodgkins, managing director of CreditExpert, said: "How much we spend this year on Christmas is a concern for many of us and recycling presents might seem like an attractive option. Just be careful you keep a close track of your gifts so you dont end up in the sticky situation of the present landing back in the hands of the person originally giving it - or anyone they know!
Just remember, the most crucial thing to do if you need to lend money, is to borrow responsibly this Christmas. It's also a good idea to check your credit report, to make sure you have a good credit status and give yourself the best chance of getting a good deal with a lender."
A recent study by Savebuckets showed that just under a quarter of Britons are still paying off debt from last Christmas. If looking to borrow money to cover the cost of Christmas, you may want to consider a low-cost loan to pay for presents or food. By choosing this option, consumers can meet these expenses quickly, but leave them with an affordable monthly repayment each month.
It was revelaed that 45 per cent of those questioned by CreditExpert, that consumers have concerns over the extra expense involved over the Christmas period and what the impact will have on their spending. It has also been reported by the credit file company, that four in ten Brits are planning to spend less money on presents than they did in 2007, in order that they manage their money over the Christmas and new year period. This shows that consumers are looking to spend an average of 301, that's 22 per cent lower than the 384 spent in 2007.
It may be possible that such concerns about getting a grip on spending are made even more dramatic due to the current financial climate, as some 53 per cent of people report that the credit crisis is causing them to struggle more when it comes to managing their money.
To cover the cost of Christmas, securing a cheap loan may be an option, to help cover the cost of Christmas. It has been reported that 23 per cent of Britons will be raiding their savings, while 12 per cent are hoping to secure a pay rise or looking towards doing overtime to meet various expenses in the run-up to Christmas.
Meanwhile, just over a quarter of those surveyed state that they are going to celebrate this Christmas in the manner that they have always done and will only think about the financial consequences of doing so in the new year. However, it could possible that on January 1st they wake up to a financial hangover which leaves them developing problems in managing repayments on personal loans, credit cards and household bills.
The study also showed that some 39 per cent of people are set to recycle old presents, by giving old or unwanted gifts they received in previous years to friends or family members. Jim Hodgkins, managing director of CreditExpert, said: "How much we spend this year on Christmas is a concern for many of us and recycling presents might seem like an attractive option. Just be careful you keep a close track of your gifts so you dont end up in the sticky situation of the present landing back in the hands of the person originally giving it - or anyone they know!
Just remember, the most crucial thing to do if you need to lend money, is to borrow responsibly this Christmas. It's also a good idea to check your credit report, to make sure you have a good credit status and give yourself the best chance of getting a good deal with a lender."
A recent study by Savebuckets showed that just under a quarter of Britons are still paying off debt from last Christmas. If looking to borrow money to cover the cost of Christmas, you may want to consider a low-cost loan to pay for presents or food. By choosing this option, consumers can meet these expenses quickly, but leave them with an affordable monthly repayment each month.
About the Author:
Mark Dawson writes for the Loan Arrangers where you can apply online for homeowner loans, you can also compare cheap loans online, with online application.
posted by Credit Counseling at
3:19 AM
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