Halloween ‘a scary time’ for debtors

Parents in the UK are finding Halloween to be an expensive time, with a total amount of £200 million being spent on entertainment for their children, new research has revealed.

According to a study conducted by Egg, 77 per cent of people with younger offspring admit to spending more than is affordable on holiday amusements – suggesting those struggling with debt management may be making their situations worse.

Aside from Halloween costs, the survey indicated that the typical family will spend almost £270 over half term on activities such as going out for lunch or to the cinema, as well as giving out pocket money.

Spokesperson at Egg Vanessa Wood remarked that parents need to “get creative” with their expenditure, with Christmas approaching.

She recommended using cash-back schemes provided by credit cards.

Moneysupermarket.com’s Martin Lewis recently emphasised the view that debtors need to be more careful with their spending, writing in the Daily Telegraph that implementing money mantras could be a good way to check undisciplined behaviour.

By Sarah Adie