Claims over a third of Brits will be paying for their Christmas presents this year using savings
Citizens Advice in York are urging people to think before spending beyond their means
People in North Yorkshire are being warned to think carefully about whether a spending splurge this Christmas is something we can really afford.
According to money saving platform Raisin UK only about 14% of people plan to repay everything inside the next two months.
Two in five (42%) of us expect to be able to fund Christmas with our monthly earnings, more than a third (35%) will have to dip into our savings to be able to spread some cheer with one in 14 (7%) relying on overdrafts and almost 6% turning to store cards, which typically have higher interest rates than traditional credit cards.
"Try not to go into debt to provide a Christmas beyond your means"
Fiona McCulloch is the Chief office of York Citizens Advice: "Remember it’s memories that you’re making is the best thing try not to stress too much about the money you’re spending ultimately a family Christmas can be a family Christmas. If you have very little money to spend it’s about being together it’s about doing lovely things together just spending that family time together."
"Try not to make yourself poor at a time of year that it’s going to be colder. You’re going to need the heating on more."
"Please try not to worry about money and please try not to go into debt to provide a Christmas that is this year beyond your means."
"Prioritise your physical health as well as your mental health. You need to stay warm and you need to stay fed and you need to be making sure you can budget your family and talk to people, there is help out there but you’ve got to ask for it and just talking about it will help if we help you with a simple budgeting plan or you sign up for a new energy program and get some specialist energy advice we could help you through the worst of it."