Many people are taking a “pay now and worry later” approach to purchases over the festive season, it has been suggested.
Director of CreditExpert.co.uk Darryl Bowman has advised people to plan carefully for the Christmas period in order to avoid getting into unnecessary debt.
“If you do want to get into debt to fund yourself through the Christmas period, that’s ok, just do it sensibly,” he explained, adding that people should put effort in to finding products that cost as little as possible.
One way customers could avoid falling into financial difficulty is to implement a debt management plan, which may enable them to spend no more than is necessary over the coming weeks.
Recent figures from CreditExpert.co.uk found that 53 per cent of UK adults are struggling in the current financial climate, resulting in 40 per cent planning to spend less on Christmas presents this year in an effort to reduce their outgoings.
By Tom Musk