More than a third of Yorkshire people will go into debt to buy Christmas presents this year says charity

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More than a third of Yorkshire people will go into debt to buy Christmas presents this year says charity

Lifetime news

Posted on: 08/12/2015

More than a third of people in Yorkshire are going into debt to buy Christmas presents this year.

That is according to the charity Money Advice Trust, who has announced that calls to its national debt support line jumped 61% after last Christmas.

The charity also says they have found that nearly one in four Britons feel under pressure to over-spend this Christmas – with shopping sprees such as Black Friday and the requests from their children  being among the main causes.

The Trust said that in Yorkshire:

  • 36% are borrowing to pay for Christmas presents
  • 19% are borrowing to pay for Christmas food
  • 21% are feeling under pressure to overspend

Joanna Elson, chief executive of the Money Advice Trust, said: “The number of us putting Christmas on credit is rising, and while most households will be able to pay this extra borrowing off, many are at risk of falling into difficulty in the New Year.

“The fact that so many people are feeling under pressure to spend more than they originally planned shows what a difficult time of year this can be.

“With underlying borrowing having risen sharply over the last year, we are concerned that this extra Christmas spending will be the last straw for many household budgets.”

The Money Advice Trust is tweeting videos to raise awareness of the pressure people are facing – along with the hashtag #MakingChristmasCount.

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