Christmas is a tonic for our souls. It moves us to think of others rather than of ourselves. It directs our thoughts to giving. – B.C Forbes.
It is time for spending on our loved ones and the people around. According to recent surveys, about 37% of the UK citizens are spending a major part of their UK budget on gifts for others.
1 in 5 Brits overspend on their budget during Christmas. Adding more expenses to the trail of debts in their name. Brits spent an average of 1200 Pounds on Christmas the previous year and more than half of them went over their budget. 1 out of 10 Britons are still paying off previous year’s Christmas debts.
But the time demands a splurge of happiness and it comes with a price tag these days. We usually spend so much on such things, to match the lifestyle we see around. These temperamental expenses bring serious financial issues. Restraining ourselves from the temptation of overspending and irrelevant liasoning for a competitive lifestyle is something to keep in mind before making such decisions.So we must remember, “a good conscience is a continual Christmas”- Benjamin Franklin.
Some facts about these habits are stated below:
About 20% people felt that they were overspending on eatables and feasts on this occasion. We invite our friends and family, which is a good thing, to share the happiness around. But not on the cost of your financial well-being it is.
25-30% people found it hard to budget their expenses at this time of the year. The source of income does not increase but the expense does. Festival essentials, gifts and other wishes of your loved ones cost you money, and all this is over the usual budget you have for the month. So the already tight budget struggles to breathe in such situations.
1/4th of the people suffered from serious debt issues lasting months after Christmas. The expenses of this festival push their financial concerns to further extents and levels of discomfort. They get trapped in financial trails and fund deficits for basic utilities in the aftermath.
To pay out the bills and expenses hailing from Christmas celebrations, a person takes out 400 Pounds on an average as credits and loans. On a national scale, the numbers add up to be 8.5Bn Pounds.
In such situations, one must scrutinize the needs and opt for loans with a clear view of them at hand. A Christmas loan via a regulated loan broker like Oyster Loan in the UK can be highly useful. These services sort your expenses and do not hamper the budget furthermore. Loan brokers like Oyster Loan are FCA regulated entities, so they make sure that your financial well-being and stability is protected throughout the course. You get access to the Financial Ombudsman Services and such other regulatory bodies, where you can voice out your concerns and opinions about these loans.
So you don’t need to spend more on things to be happy about something, as the “gifts of time and love are surely the basic ingredients of a truly merry Christmas”- Peg Bracken.
For easy finances and Christmas loans for the bad credit profiles in the UK, visit oysterloan.co.uk
