Member Article

Research Reveals One in Five Brits Worried About Paying For Christmas 2013

A fifth of Britain is worried about paying for Christmas this year, and as the dark nights draw in marking the official start of the festive shopping season, new research has uncovered how one in every six British people are planning on putting Christmas 2013 on the credit card.

The research, commissioned by peachy.co.uk, has taken a snapshot of the country’s money concerns. The poll of 2000 people has also revealed how one in six Brits are worried about paying their utility bills like the gas and electric, while 16% aren’t sure they’ll be able to make ends meet with their finances.

With estimates showing UK families spend between £450 and £1,500 across the festive period, the average household spend is expected to be over £800 this year.

Founder of peachy.co.uk Kristjan Novitski says: “Limit your spending and really consider the things you need to buy that you couldn’t have a Christmas without. Paying for Christmas with a credit card, bank loan or pay day loan means fees and interest on top of what you’ve actually spent come January - a month that’s statistically the most stressful month of the year. The only reason for taking credit at this time of year is when there is something that you really need, and can buy on a huge discount in the winter sales. With that there is a win-win situation where you can find yourself spending a lot less money on something which you know you have to buy anyway, and you’re saving on the fees you have to pay on the credit you’re taking. However, just using credit to fund your ‘emotional’ spending over Christmas is definitely not the answer”.

Simple Steps For Managing Your Christmas Finances:

• Shop Online – not only does shopping online allow you to very easily compare prices from numerous providers but online traders often offer greater discounts than those available on the high street as they have reduced costs of operating. You will also be able to save money on the hidden costs of shopping, such as transportation and parking, which all mounts up at this time of year.
• Recycle Gifts – every year we receive gifts that we actually get no use out of, however there may be someone you know who would really appreciate receiving that gift this year. If you feel uncomfortable passing an old gift on to somebody else you could always put it up for sale online and use the money to bolster your Christmas budget.
• Plan Your Budget – make sure you know how much you have available to spend before you embark on your Christmas shopping. Draw up a list of all the people you have to buy for, the sort of items you are looking for and a budget for how much you would be looking to spend on each person. By planning carefully you can make sure that you don’t over spend and that you make the most of the offers that shops bring in during December to boost their sales.

For more information you can visit www.peachy.co.uk

This was posted in Bdaily's Members' News section by Independent Media News .