Payday loans could ease Christmas frugality
(22 November 2005)

Shoppers will be toning down their spending this Christmas, according to a survey – thus furthering the case for a short-term loan to ensure that you don't have to hold back on any of the trappings that you usually enjoy.

A study by KPMG suggests that 45 per cent of consumers will shell out less than £200 on presents this year – a significant 16 per cent up on the figure for 2004.

The average total spend – now £333 – is also down on last year, and 40 per cent of shoppers admit that they have not even started looking for presents yet, thus perhaps waiting their moment for some enticing last-minute deals.

Helen Dickinson, KPMG's head of retail, confirmed that retailers will have their hearts in their mouths as festive excitement heightens.

She said: "The survey shows further evidence that people are tightening their belts in terms of how much they intend to spend, so retailers will be nervous as they wait for the final buying surge and holding that nerve without giving in to the temptation of announcing further discounts and sales will be key."

If you're thinking about drawing a stricter line under your spending this Christmas, it's worth considering that a cash advance would cover a few more treats for the period and will not saddle you with debts that take ages to pay off.


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