Debt Consolidation Credit Counseling In Phoenix

As the Christmas season approaches, a significant number of Britons are worried about how they will manage their money.

It has been reported by CreditExpert that 45 per cent of people have concerns about the extra expense involved in the build-up to the festive period and the impact it will cause on their budgets. The credit file company also pointed out that four in ten Brits intend to spend less money on presents than they did in 2007, in the hope that they can manage their finances over the Christmas and new year period. Consumers intend to spend 22 per cent less this year, that's an average spend of 301 compared to the 387 spent last year.

It may be possible that such concerns about getting a grip on spending are made even more dramatic due to the current financial climate, as some 53 per cent of people report that the credit crisis is causing them to struggle more when it comes to managing their money.

To cover the cost of Christmas, securing a cheap loan may be an option, to help cover the cost of Christmas. It has been reported that 23 per cent of Britons will be raiding their savings, while 12 per cent are hoping to secure a pay rise or looking towards doing overtime to meet various expenses in the run-up to Christmas.

More consumers could fall in to debt in the new year, by not being able to afford to pay their personal loans and credit cards etc. As over a quarter of individuals serveyed, have said that they will celebrate this Christmas, as they have always done previously and worry about the financial consequences in the new year.

According to a study, some 39 per cent of people intend to recycle old gifts. They hope to do this by getting any old or unwanted gifts received in past years and give them out to friends and family. Mr Hodgkins, the managing director for CreditExpert said: "Although the cost of Christmas is a major concern and recycling is an attractive option. Make sure that the present does not land back to the person that originally gave it to you, as it could cause upset and create an awkward situation!

The most crucial thing to do, when trying to improve your finances, is to borrow sensibly over the Christmas period. It's also beneficial for you to check your credit report, this will enable you to check your credit history and increase the chances of getting a better deal with a lender."

Savebuckets have done a recent study that highlighted that just under a quarter of Britons are still repaying debt from Christams 2007. If needing to borrow this Christmas, then consider a low-cost loan. Consumers can then meet these expenses quickly, but also leave them with an affordable amount to repay each month.