Growing Concerns For Consumers This Christmas
A significant number of britons are worried about how they will manage their money this Christmas.
It has been reported by CreditExpert that 45 per cent of people have concerns about the extra expense involved in the build-up to the festive period and the impact it will cause on their budgets. The credit file company also pointed out that four in ten Brits intend to spend less money on presents than they did in 2007, in the hope that they can manage their finances over the Christmas and new year period. Consumers intend to spend 22 per cent less this year, that's an average spend of 301 compared to the 387 spent last year.
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.
According to a survey, just over a quarter of people said that they will celebrate this Christmas, as they always have done and will think about the financial consequences in the new year. This could cause further problems for consumers, not being able to manage their repayments on personal loans and household bills etc.
A study showed that 39 per cent of people are intending to recycle old gifts, by passing on presents received in previous years to family or friends. The MD of Credit Expert, Jim Hodgkins said: "what we spend this Christmas is a concern for many and although recycling is an attractive option. Be careful you keep track, as you don't want to end up in an awkward situation if the present lands back in the hands of the person that originally gave it you!
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 has been reported by CreditExpert that 45 per cent of people have concerns about the extra expense involved in the build-up to the festive period and the impact it will cause on their budgets. The credit file company also pointed out that four in ten Brits intend to spend less money on presents than they did in 2007, in the hope that they can manage their finances over the Christmas and new year period. Consumers intend to spend 22 per cent less this year, that's an average spend of 301 compared to the 387 spent last year.
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.
According to a survey, just over a quarter of people said that they will celebrate this Christmas, as they always have done and will think about the financial consequences in the new year. This could cause further problems for consumers, not being able to manage their repayments on personal loans and household bills etc.
A study showed that 39 per cent of people are intending to recycle old gifts, by passing on presents received in previous years to family or friends. The MD of Credit Expert, Jim Hodgkins said: "what we spend this Christmas is a concern for many and although recycling is an attractive option. Be careful you keep track, as you don't want to end up in an awkward situation if the present lands back in the hands of the person that originally gave it you!
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.
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