Nearly three quarters of Brits have not planned their Christmas spending throughout the year and are using their household budgets to cover the cost of the celebration, according to a new report.
Conducted by money.co.uk, the research showed that 71 per cent may face financial strain this month due to a lack of thinking ahead, causing an 8 billion hole in Brits' pockets.
Some 31 per cent of adults are concerned about paying for Christmas, although only 15 per cent have taken precautions throughout 2009 to spread the costs over the year, and ten per cent even admitted that they are still struggling with debts from last December.
Chris Morling, managing director at money.co.uk, said: "Lots of people are likely to be very short of cash going into the New Year, which would not make for a great start to 2010."
CreditExpert recently revealed that the effect of the economic downturn on consumers' financial positions is showing itself in stress-related minor physical health problems known as 'recession strain injury'.
Xmas > Christmas News
Financial planning lacking for Christmas
Mon, 30 Nov 2009
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