Brits bedevilled by festive credit spending

Posted 2007-12-5

The savings Manager at AWD Chase de Vere, Susan Hannums asserts that consumers should plan for the long-term and be wise about credit card usage on a “day to day” basis.

“The spending and the mortgage rates are going up … there’s a lot happening and it’s a very worrying time,” she said.

With many Brits struggling to pay credit card interest and fees, now is the time to put those cards away and spend only what cash is expendable and on hand.

Opting for a home loan is the best way of releasing secured funds, rather than depending on high interest rate, unsecured credit.

In some cases a fixed repayment period could allow homeowners to gain the funds required to pay for their expenditures of the festive season, while at the same time ensuring a long-term budget plan is put into action.

“We definitely have had way too many years of relying on credit and Christmas is one of those incredibly expensive times,” Ms. Hannums explained.

Leave a Reply