December has not yet arrived, but British consumers are already thought to have spent billions of pounds in preparation for Christmas.
Millions of people around the UK are dealing with debt management issues, but almost eight per cent of adults told Sainsbury’s Bank researchers that they had so far spent more than £500 on items for the festive season.
In fact, according to the latest figures from the financial services firm, there has already been around £6.29 billion worth of Christmas spending around the country.
Donald MacLeod, head of Sainsbury’s Cards, commented: “Christmas is one of the most expensive times of the year so it’s encouraging to see that a large number of shoppers are spreading the cost.
“With so many outgoings it makes sense to look for a credit card that gives you something back in return, people using cards this festive season should check that their spend is being rewarded.”
Soon after Christmas 2006, the Citizens Advice charity urged UK consumers to reassess their finances and resolve to become debt free.