Debts & Loans

People looking to avoid major debt problems.

Over the festive period have been given a number of tips to keep their finances on track. The key to keeping Christmas spending under control without having to cut back on the celebrations is planning.

Most importantly, Christmas shoppers should avoid leaving their purchases until the last minute, as this will often cause them to spend significantly more than they envisaged.

Leaving present–buying to the last minute means you are hijacked by your emotions and spend too much.

We advises people to shop online for competitive prices on Christmas gifts, although it also urges them to avoid building up large credit card debts during the festive period.

Store cards should also be given a wide berth, as they will often lead to hefty bills once the initial interest-free period has expired.

Recent data from Citizens Advice reveals that 20 per cent of all debt inquiries received in 2007-08 concerned credit, store or charge card payments.