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Don’t present debt this Christmas

Christmas is only around the corner and several people, in fact millions, are worried about the cost of Christmas this year. Are you?

According to a recent survey, 1 in three people already plan to borrow money to tide them over during the festive period.

It’s no secret that this time of year is expensive, with the average festive budget coming in at £449 but in reality we will spend a huge £1,086 each on presents, accommodation, food and drinks, hosting friends and family and even travel. So, it comes at no surprise that Christmas carries some debt. A survey by OnePoll found that the typical hangover debt stands at £287, resulting in many turning to credit cards, loans or even overdrafts to fit the bill.

A spokesman from online lender MyJar said “People sometimes spend nearly double what they budget, so it’s no wonder people feel the financial strain and may resort to borrowing to help bridge the gap. It’s important to only spend what you can afford.”

Don’t let the pressures of Christmas drag you into a pit of debt, be sensible and spend within reason. Christmas is about family and friends, and not about splurging your cash on the latest gadgets and gifts.

OnePoll’s survey also found that parents would give up purchasing decorations for the home and gifts for extended family members, to ensure their children receive gifts for Christmas. The average parent in the UK will spend a whopping £142 per child on presents. But, if you’re struggling for cash, try and find alternatives to gifts such as vouchers to free events, or purchasing family gifts, that way you won’t have to splurge on individual gifts. 

Don’t present debt this Christmas, if you are concerned about your financial situation this Christmas, or you’re worried you’ve overspent and will be facing a mountain of debt in January, talk to Sensible Debt Advice today. We can provide advice and support on debt and help find you a solution. Call 01656 661426 for a confidential and free consultation, to discuss your options.

*Please note: Our office will be closed from Thursday 20th December until Monday 7th January.

Merry Christmas from all of us here at Sensible Debt Advice


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