Shoppers risk financial security for Christmas
Although stores have been forced to start their sales early this year to persuade shoppers to part with their money, nearly a third of people in the UK will go into debt over Christmas.
Fifty-eight percent of this group will put more spending than usual on credit cards and thirty-nine per cent will go overdrawn to fund Christmas according to a survey carried out by YouGov on behalf of banking software company Intelligent Environments.
Others will take out personal loans or borrow money from friends and family.
The survey of 2,015 adults found that 11 per cent of people in the UK will lose track of spending over the festive period and people between the ages of 25 and 34 were found to struggle the most with money.
Sixty-four per cent of this group expect to incur debts or arrears of some kind as a result of Christmas expenses.