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Christmas Credit – Deliver us from Debt

With Christmas upon us, if you’re a small business owner you have (hopefully) experienced a sharp increase in sales over the past few weeks, particularly if some of your stock is aimed at Christmas shoppers, whether it’s festive food supplies, Christmas decorations or items that would make suitable gifts. According to one of the UK’s leading debt advice providers, Christmas is likely to be the tipping point for people who are already struggling to maintain control of their finances and once the pressure of Christmas is over, debt enquiries usually see a sharp rise every January. It’s been revealed that one in three people in Britain are likely to pay for Christmas with credit cards this year and data from a National Debtline survey clearly shows that 33% of respondents say they are having to borrow to pay for Christmas.

More than one in five will buy their Christmas seasonal food on credit and 10% say that they regularly worry about cash in the run up to the holiday period. A similar number of those polled admit that they feel stressed out about the amount that they are spending during the few weeks before Christmas with 6% disclosing that their worries about finances have a detrimental impact on their ability to actually enjoy Christmas! When it comes to the New Year, demand for debt advice from Britons calling the National Debtline will increase as people get back to reality and realise that they’ve done themselves no financial favours by spending too much.

Christmas is a busy time of year for all of us and it’s understandable that we would prefer to enjoy all that the season has to offer without having to consider our money worries. Instead, we tend to put our financial problems on the back burner for a few weeks and concentrate on Christmas, all the while with that niggling little worry at the backs of our minds. Research shows that there are millions of people here in the UK who are worrying about Christmas finances – all of whom could benefit from seeking some advice right now to get a grip on their financial problems.

Here are some tips that you can use to make paying for Christmas a little easier without falling into debt: • Set a Christmas Budget and stick to it. Make a list of who you need to buy presents for with a budget for each and don’t get tempted by all the little “extras” in the shops.

• Shop around for deals and make the most of the Christmas sales and special offers. Several High Street shops run Christmas specials such as “Buy Two, Get One Free” or “BOGOF” – these are what you should be looking at when it comes to buying gifts.

• If you get paid earlier than usual in December, make sure that you pay your household bills (rent, council tax, electricity, gas, etc.) immediately so that you know exactly how much you have left over to spend on Christmas.

• If you do decide to use credit to pay for Christmas, check the terms and conditions to make sure that the repayments are “doable” and won’t leave you in difficulty in the future. Above all, remember that it’s the thought that counts, not he price of the gift – Christmas is just one day in the year and it’s just not worth spoiling your enjoyment of 2017 by overspending and leaving yourself in financial difficulties right at the start.


The only other thing we have to say is – from all of us here at Access Credit Management: We hope you have a VERY MERRY CHRISTMAS