Many have "no idea" how to pay for Christmas
22/12/2008
Some people have "no idea" how they are going to pay for this year's Christmas festivities, research has found.
A survey by fairinvestment.co.uk has discovered that 14 per cent of those questioned do not know how they are going to meet the costs of the festive period.
In the research, 12 per cent said they will use their savings to pay for Christmas goods, while eight per cent will be purchasing presents and food using credit cards and two per cent will be taking out loans.
However, 28 per cent of participants in the survey said that money will be no object this Christmas despite the current economic challenges.
Spokesperson for the organisation Rachael Stiles stated that it is "good" to see that the credit crunch has not spoilt everybody's holiday season.
"Putting money into a savings account throughout the year is another sensible option which a number of people seem to have done this year," she added.
Meanwhile, Halifax has noted that many people are capping their spending on festive goods this year.
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