Credit Cave

Christmas season is increasingly being looked upon as an excuse to shop and its spirit as a festival is perhaps on the wane. These are the views of F&C Asset Management.

72 Point Limited undertook research for F&C Asset Management and found that 17% of parents and grandparents felt that they would have to bear the brunt of crazy Christmas shopping and it will take them more than a month to repay their credit card borrowings. The survey was conducted across 2,194 respondents and it found that a staggering 45% of the parents felt that they could not afford to save for their children’s future and yet 40% of the respondents will be shelling out £100 per child on Christmas gifts and 70% will be spending in excess of £50 per child.

Be forewarned, merriness of the spirit in this season will leave you feeling all warm for quite some time, spending merrily, that too on credit, will only leave you feeling cold as the season peters out.

This entry was posted on Tuesday, December 5th, 2006 at 1:30 pm and is filed under Saving Money. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.