Almost a quarter of Brits will have to go into debt to fund their Christmas shopping this year as the cost of living bites, a new survey has revealed.
The Cost of Christmas survey of over 2,000 people, by personal insolvency provider, Creditfix, revealed what their spending habits will look like this Christmas.
When asked if theyll be using any of the below methods to pay for the festive season, Creditfix found:
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15.3% will be using Buy Now Pay Later services.
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7.7% will be using their credit card.
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2.4% will be using store cards.
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4.8% will be using their overdraft.
A fifth (20%) state it will take them at least three months to pay off their debt this Christmas with 4.4% expecting to still be …
Read the full article at: https://365retail.co.uk/one-in-four-consumers-to-rely-on-credit-cards-and-buy-now-pay-later-schemes-for-christmas-2023-spending/