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Nearly half UK population expect to go into debt to fund Christmas

14 December 2015 - Janet Bird

Nearly half UK population expect to go into debt to fund Christmas

Nearly half of the UK's population (44 percent) expect to go into debt to fund Christmas this year, new research has revealed.

The findings of a study undertaken by financial technology specialists Intelligent Environments, reveal a hidden dark side to the traditional celebrations.

Nearly a third of the 2,000 people surveyed (31 percent) felt going into debt was essential to fund the festive season.

More than a quarter (26 percent) expected to miss at least one loan repayment and incur a late payment fee over the Christmas period.

Half of those surveyed said going into debt is one of the biggest causes of stress at Christmas.

Intelligent Environments claim these figures could be dramatically reduced if banks gave their customers advice, training and access to money management tools.


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