Christmas Money Causing Worry

According to moneysupermarket.com over half of Brits are worried about finding Christmas money this year, up from last year.

It seems that 2010 has hit consumers hard with high inflation hitting how far money goes and the Government’s austerity measure about to cause more worry.

As Kevin Mountford, head of banking at moneysupermarket.com says “Christmas can be financially tricky for families and the current economic climate is not making things any easier.

Preparation is paramount for a successful festive season and consumers who have saved in advance will be able to start the New Year without the burden of Christmas debt hanging over them.”

It seems many have not got their Christmas personal finances in shape, and more women than men admit to being worried about funding their festivities. Perhaps surprisingly it sems more men than women though have already started their Christmas shopping.

Whilst turning to a credit card with an interest free purchase offer may seem attractive, be careful to be able to pay off the balance in full within the promotional period. Only borrow what you can afford to avoid finding yourself with debt you cannot repay.

Consumers expect highest interest rates on credit cards to be paid off first, but this is not always the case.

Not only could you end up paying considerably more for your festivities through interest charges, you could still be paying for this year’s festivities as Christmas 2011 hits!