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Brits 'planning to spend less this Christmas'

The ongoing credit crunch has impacted on the festive plans of many British people, a new survey has found.

According to research by Cornhill Direct, 30 per cent of UK consumers intend to spend less than they normally would this Christmas as a result of the current financial uncertainty.

The insurance firm also stated that the typical Briton spent £2,114 over the festive period last year - 4.1 per cent lower than the average expense for 2005.

Cornhill Direct spokesperson Simon Coughlin commented: "It seems extraordinary that one day in the calendar can have such an impact on people's finances."

The company also advised people to check they are insured for the increased value of their house's contents over Christmas, with many families likely to have a valuable collection of presents stored at home.

Bradford & Bingley recently advised festive holidaymakers to make sure that any Christmas gifts in their luggage are included in their travel insurance policy. Personal loans can help cover insurance costs.

See how much you could borrow when you apply for a Lombard Direct personal loan.

© Adfero Ltd

29/11/2007 17:16:14

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