Brits lazy at Christmas saving

| September 1, 2014

Just 15% of Brits have put aside money to pay for Christmas, according to research published this week.

Seven in ten (71%) plan to pay for Christmas using their regular monthly income, while 14% will put their Christmas spending onto a credit card.

Nearly five million Brits are still paying off debts from last year鈥檚 Christmas, the study found.

This year鈥檚 Christmas spending splurge is expected to hit 拢11 million, despite many Brits pledging to make spending cutbacks over the festive season.

Two in five (43%) plan to spend less on gifts, while 31% will only by presents for their immediate family.

However, 62% said they are keen to make sure the recession does not spoil the 鈥榤agic of Christmas鈥.

Chris Morling, managing director of, who commissioned the poll, expressed concern that Brits who haven鈥檛 saved for Christmas could end up overspending.

鈥淵ou have to worry about the effect all this last minute spending will have in January,鈥 Morling said.

鈥淟ots of people are likely to be very short of cash going into the New Year, which would not make for a great start to 2014.”

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