Brits in credit card debt looking for Christmas windfall

By Sarah Engle, Thu 1 Dec 2011 - Published in Credit Cards

Those who are worrying about funding the cost of Christmas through putting themselves into debt with credit cards are hoping for a Christmas windfall to help them out.

A survey from First Direct has discovered that 28 per cent of adults are hoping to be given the gift of cash over presents this year.

Last Christmas, 19 per cent of Brits received a monetary gift, with 63 per cent being given cash, and 23 per cent receiving cheques.

A further six per cent of worried Brits are hoping for some kind of festive bonus from their employers.

Recently, consumer watchdog Which? said that 20 million Brits felt that they would have to cut back on Christmas budgets or turn to alternative funding as cash becomes tighter.

Bruno Genovese, head of savings at First Direct said: "With a greater amount of gift money expected in 2011, it seems that people are conscious of not wasting money on unwanted presents and are letting friends and family choose for themselves."

News Categories

News Archive

News: Brits in credit card debt looking for Christmas windfall