Consumers Choose Different Ways to Finance Christmas

With just over 10 weeks to go until Christmas, new research shows how consumers are planning to finance their festive costs.

A report from VoucherCodes claims that around a third of people have been worrying about the cost of Christmas since late summer, while one in five say that Christmas debt will be their biggest financial stress come next January.

Half of Brits put some cash away or purchase presents throughout the year to spread the cost of Christmas, rather than leaving it all to the last minute. While some people admit to starting their Christmas shopping before the end of September, around 16 per cent say they have been buying gifts all year round.

A quarter of Brits use vouchers or loyalty points to cut the cost of Christmas essentials, while one in ten proudly admitted to buying gifts in last year’s sales.

A quarter of Brits borrow money to cover Christmas costs, with 17 per cent turning to their plastic for help whilst others use an overdraft or personal loan.

A spokesman for VoucherCodes.co.uk, said: “While the recession may be easing, it’s clear Britons’ mind sets have shifted with many planning ahead to ensure they have the Christmas they want without the monster financial hangover traditionally associated with January. Now’s the time to start making lists of everything you’ll need, from decorations to dinner, so that you can stock up as deals and offers go live.”

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