Research carried out by MoneyExpert found that more than 4.4 billion people have not managed to clear credit card balances they built up last Christmas.
According to Apacs, UK consumers will blow £53 billion during December this year, with £11.7 billion being spent on credit cards.
"We can all give into temptation at Christmas and put it on plastic but if the debt lingers from year to year you're starting to get into trouble," said Sean Gardner from the finance website.
"Borrowing money is fine as long as you have a repayment plan. Unfortunately it appears millions of us do not. And with lenders getting tough that is not a good position to be in."
The study also showed, however, that 54 per cent of adults in Britain did not take on extra loans last year to cover seasonal spending.
It is vitally important for loan shoppers to be aware that the highest propensities of financial troubles arise as a result of excessive spending at and around Christmas. Consumers are advised to approach their Christmas spending intentions with an air of caution, as a means to avoid over stretching themselves financially.
But a recent survey from Britannia revealed that 37 per cent of people anticipate borrowing to cover the costs of this Yuletide. You can reduce the availing cost of the loan by searching the lender online as they provide quotes free of cost. They don't charge the processing fee too and provide the loan quickly. So it's time that with the help of Christmas loan you start wishing yourself and others 'Merry Christmas'
Article Source: Ezine Articles
According to Apacs, UK consumers will blow £53 billion during December this year, with £11.7 billion being spent on credit cards.
"We can all give into temptation at Christmas and put it on plastic but if the debt lingers from year to year you're starting to get into trouble," said Sean Gardner from the finance website.
"Borrowing money is fine as long as you have a repayment plan. Unfortunately it appears millions of us do not. And with lenders getting tough that is not a good position to be in."
The study also showed, however, that 54 per cent of adults in Britain did not take on extra loans last year to cover seasonal spending.
It is vitally important for loan shoppers to be aware that the highest propensities of financial troubles arise as a result of excessive spending at and around Christmas. Consumers are advised to approach their Christmas spending intentions with an air of caution, as a means to avoid over stretching themselves financially.
But a recent survey from Britannia revealed that 37 per cent of people anticipate borrowing to cover the costs of this Yuletide. You can reduce the availing cost of the loan by searching the lender online as they provide quotes free of cost. They don't charge the processing fee too and provide the loan quickly. So it's time that with the help of Christmas loan you start wishing yourself and others 'Merry Christmas'
Article Source: Ezine Articles
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