No let up in seasonal splashing of cash

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No let up in seasonal splashing of cash

Despite crunches, downturns and forecasts of economic doom, a lot of us Brits are still determined to splash the cash this Christmas, according to Direct Line Home Insurance.
Direct line’s survey shows that about one in six people claim that they will spend more money on presents this year than they did in 2007 and more than half are aiming to spend the same as last year.
The average spend on presents is expected to be a total of £407 spread amongst ten friends/family members.
Commenting on the figures, Andrew Lowe, head of Direct Line Home Insurance, said: “As ever, the nation is fully embracing this year’s Christmas festivities. However, for many buying gifts, it means shopping much smarter to get the most for their money. Our research shows many are keeping an eye out for offers and discounts so they get the best deals on presents they are planning to buy – whether this means starting shopping earlier or leaving it until the last minute hoping for reductions.”
One way of funding the concentrated cost of Christmas is to take out a personal loan which can then be paid back over the year – spreading the cost into affordable instalments.