Christmas Isn’t the Main Cause of Debt
It is fair to say that people spend more money at Christmas time than at any other regular time of year. But should this therefore lead to people blaming Christmas for their debt?
When you look at research undertaken by both M&S Money and HSBC it is perhaps a little premature to solely blame Christmas.
HSBC reported that in 2011 Brits spent, on average, £560 on Christmas. Base this annual number on someone between the ages of 16 and 65 years old and that is a total of £27,400 in their lifetime.
M&S Money reported in 2012 that, on average and based on the same age brackets, people spent £33,222 on hobbies, £46,700 on gadgets, £56,000 following a football team, £65,000 on broadband and telephone and £89,900 on electrical goods in their lifetime.
This would suggest that it is people’s spending over 12 months and not just at Christmas time that could be leading to increased debt levels. Debt Free Direct.co.uk is a company that provides help with debt management, consolidation and bankruptcy advice. If you are having problems with debt then don't hesitate to get touch or visit them online Visit Direct Free Direct Online www.debtfreedirect.co.uk.