It seems that an increasing number of people under the age of 35 will be using loans and credit cards to fund Christmas this year.
Research from the Co-Operative Electrical, a division of the Co-Operative Group, found those between the ages of 24 and 35 are the most likely to rely on credit.
"More and more people are feeling under financial pressure and put themselves at risk of paying a high price by not fully understanding the cost of finance or the alternatives available," David Sanderson of the firm explained.
Of those polled, around a third indicated they would turn to credit cards if their request for a loan was turned down, or if a bank would not extend their overdrafts.
MyVoucherCodes.co.uk recently found that 19 per cent of people in the UK will pay for Christmas this year by getting into debt, while 42 per cent will ask for a bank loan. |
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