Stat of the day: 31%

The percentage of people who will go into debt over the festive period.

by Emma Haslett
Last Updated: 09 Oct 2013
The good news is that the British Retail Consortium reckons there’s been a festive surge in spending. The bad news, though, is that according to figures by YouGov, a third of shoppers will fall into debt this Christmas, with two-thirds spending more than they usually do on credit cards, while two in five will go overdrawn.

The UK’s consumers are already the fourth most indebted in the EU – but this Christmas looks set to be more frugal than ever as high inflation and rising unemployment take their toll on households’ finances. And let’s not forget figures out last week, which showed that 4m UK consumers have also taken out payday loans. Looks like all Santa’s going to be delivering this year is a big, fat bill.  

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