Top tips for a cracking Christmas
Cash conscious Brits are being offered some top tips for a cracking Christmas to minimise the financial hangover.
The advice has been issued by MoneySupermarket after its recent poll revealed only a third of people have enough disposable income to fund the festivities.
Of the rest, 20 per cent will use savings, 11 per cent will turn to credit and four per cent will be forced to dip into their overdrafts.
However, the comparison site is advising people that it is never too late to start saving. Putting aside just £20 a week between now and Christmas could pay for the turkey and all its trimmings, which would at least take the pressure off the December pay packet.
Those who can afford to pay credit card balances in full each month may want to consider a cash back card which will offer them rewards in return for purchases made.
All consumers are being advised to beware of store cards with high interest rates, despite the initial discounts they may offer.
Kevin Mountford, Head of Banking at MoneySupermarket, said: “The golden rule of festive spending is to know how much you have available and then stick to your budget, or you could be left in the cold paying off Christmas well into the New Year.”
