- Monday, 30 November 2009Almost three-quarters (71 per cent) of Britons are expected to spend money this Christmas without thinking about the financial repercussions in the New Year.
That is according to the price comparison site money.co.uk, which suggests that 30 million people could find themselves in debt at the end of the festive period.
As such, Britain could see an upsurge in the number of citizens seeking debt advice in January as people struggle to pay off loans in what remains a difficult financial climate.
Chris Morling, managing director of money.co.uk said: "The effect all this last minute spending will have in January [is of concern].
"Lots of people are likely to be very short of cash going into the New Year, which would not make for a great start to 2010."
It is estimated that a total of £8 billion could be owed as a result of Christmas.
However, there is evidence that some people are attempting to cut down on expenses, with 43 per cent intending to spend less on gifts and 14 per cent planning to recycle or pass on unwanted presents.
Recent IVA News23% of first-time buyers save for five years to raise a depositWed, 04 May 2011
Brits dealing with Finance Management should shop around for car insurance Wed, 04 May 2011
Parents, including those with Finance Management, advised to start saving for children's weddingsTue, 03 May 2011
Newlyweds may be in need of Finance Management plans after overspending on weddingTue, 03 May 2011
Renting rather than buying may be an option for Brits with Finance Management Thu, 28 Apr 2011
Consumers coping with Finance Management may want to shop around for cheap energy tariffsWed, 27 Apr 2011
Increasing number of Brits turning to loans for home improvementsWed, 27 Apr 2011
Brits, including those with Finance Management plans, to spend £267 on Royal Wedding Tue, 26 Apr 2011
Equity release can be used to 'become debt-free'Tue, 26 Apr 2011
| |
Money Debt and Credit Ltd, Registered in England & Wales No.05588842.
Registered Office: 45 Clarendon Road, Watford WD17 1SZ
Consumer Credit Licence Number: 0580960