Brits 'being more careful this Christmas'

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Brits 'being more careful this Christmas'

Thu 15th Dec 2011

People across the UK are taking a wary approach to lending at this time of year, with many worried about falling into debt in order to pay for gifts and entertainment over the festive period.

Andrew Hagger, a spokesman for moneynet.co.uk, said Brits do not want to be left with large credit card bills come January and they are therefore reining back their spending this Christmas.

He commented: "I think it has been a tough year for people with the cost of utilities, the extra cost of petrol and also food costs have gone up, so that leaves people with less money at this time of year."

Mr Hagger added that it really depends on the number of gifts that people have to buy as to how successful these money-saving measures will be.

According to research from Halifax, the average Brit plans to spend £319.61 on gifts for loved ones this year, shelling out nearly £37 on each person.

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