Too much Xmas shopping could make debt advice 'a necessity'
Too much Xmas shopping could make debt advice 'a necessity'
Friday 18th December 2009
According to the Debt Advice Foundation, it is important people do not get carried away buying food, drink and presents.
The debt charity recommended that shoppers write themselves a strict list to avoid impulse buys and browse online retailers to find the best bargains.
David Roger, managing director of the foundation, suggested that people often feel "pressured" to spend more than their means at Christmas-time.
His comments came following the publication of figures by the insolvency Service showing that more people are suffering from money worries this year than ever before.
Mr Roger said: "There have been predictions of bumper sales for retailers this Christmas, and with just a few shopping days left, there is always a temptation to spend more - so it’s important to work out your budget and stick to it."
Debt Advice Foundation also urged people to be careful when spending money on store cards and to consider speaking with friends and family to explain if they are not in a position to lavish expensive gifts on their loved ones.
While the temptation is to throw caution to the wind, Mr Roger noted that being in debt can cause stress and leave people feeling "extremely isolated".
Recently, Barclays suggested that £23 billion will be spent on debit cards in the run-up to Christmas, a significant amount that includes £5 billion of groceries and £1 billion of fuel.
News article brought to you by Debt1 – UK debt management specialists
Related News
Unemployment figures a 'mixed bag' for those requiring debt advice - 17/12/09
New figures on unemployment have been welcomed by the Chartered Institute of Personnel and Development (CIPD), but struggling consumers may not wish to ignore debt help just yet
New figures on unemployment have been welcomed by the Chartered Institute of Personnel and Development (CIPD), but struggling consumers may not wish to ignore debt help just yet
Fairer tax system could help with debt management - 16/12/09
Debt management solutions could be made more effective for many struggling homeowners if changes were made to the tax system
Debt management solutions could be made more effective for many struggling homeowners if changes were made to the tax system
Rising loan prices could make debt management a necessity - 16/12/09
People could find themselves requiring more debt management help as a result of the rising prices and restricted access that have come to characterise the marketplace for personal loans
People could find themselves requiring more debt management help as a result of the rising prices and restricted access that have come to characterise the marketplace for personal loans
Kerry Katona wants to open takeaway outlet following debt management - 15/12/09
She is famous for having debt consolidation troubles, but former Atomic Kitten singer Kerry Katona is now keen to move on from her bankruptcy
She is famous for having debt consolidation troubles, but former Atomic Kitten singer Kerry Katona is now keen to move on from her bankruptcy
Plymouth businessman enters into debt consolidation - 15/12/09
A south-west-based businessman is attempting to achieve debt consolidation by entering into an Individual Voluntary Agreement (IVA)
A south-west-based businessman is attempting to achieve debt consolidation by entering into an Individual Voluntary Agreement (IVA)
News Article Search
Quick Apply
News Archive