Expert consumer advice on how to responsibly pay for Christmas when budgets are tight
The rising cost of living is pushing people to make cutbacks and trade-offs ahead of the festive period, in the hopes of still being able to preserve some elements of fun and magic this Christmas. Two in five shoppers plan to spend less this holiday season, and one in five will be looking to purchase less expensive gifts.
New research from Buy Now, Pay Later provider Clearpay reveals just under half (48%) of us are cutting back on nice to have purchases. Almost 1 in 5 of shoppers plan to spend the same as ever on essentials but are cutting back on “nice-to-have” purchases. More than a third of shoppers say they are always on the lookout for a bargain.
As people continue to feel the financial pinch in the run up to Christmas, nearly one in 10 (9%) plan to sign up to a buy now pay later service to manage their finances.
Ros spoke to personal finance & consumer expert Sue Hayward.
Photo by Colin Watts on Unsplash
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