Five tips to nail your Christmas spending plan

There is real societal pressure for families to spend more than they can afford this festive season, resulting in people feeling burdened as they attempt to “keep up with the Joneses”.

Companies have been using campaigns to persuade customers to spend their Christmas money as early as October.  It’s become the most commercialised time of year – approximately £5.6 billion was spent last year on advertising and marketing in the run-up to Christmas, according to the Advertising Association.

According to comparison site GoCompare, in November 2016, the cost of Christmas for the average British household was estimated at £753. Meanwhile, a survey by the Money Advice Trust found that one in three British consumers turn to credit to cover their costs at Christmas. It’s the reality many people face this time of year…

Published: 08 December 2017

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