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UK pay for Christmas in debt

12-15-2011 10:17 BJT

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It's less then two weeks to go before Christmas, and millions across the globe are busy spending money preparing for a comfortable and merry Christmas.

But a smooth holiday doesn't come easy. According to one survey, a third of people in the UK will be forced into debt over the festive period to pay for their celebrations.

Christmas is an expensive time of year. Trees, decorations, parties and presents all put a strain on already squeezed household budgets. But for 31 percent of the UK population, the squeeze will push them into overdraft, and reliant on credit cards and loans to tide them over until the New Year. The You Gov survey says 58 percent will spend more than average on their credit cards.

On a high street in Slough, shoppers are busy picking up Christmas presents.

A Christmas shopper said, "I'll probably just put everything on the credit card to get through it to be honest. So it might be quite difficult."

A Christmas shopper said, "We have decided we're not going to go over the top like we normally do and leave ourselves short for the New Year, so we've cut right back this Christmas."

A Christmas shopper said, "I'll definitely spend less, just in case my husband is out of a job next year. You just don't know do you? So I'll keep it cheaper, I don't know."

This means the designer handbags and glittering jewelry might have to wait until another year. For keeping the merry mood after Christmas, careful budgeting and tight purse strings could be the key to avoiding dipping into the red.

 

Editor:Liu Fang |Source: CNTV.CN

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