Avoid debt help at Christmas

Consumers worried about the prospect of debt problems are holding back on spending rather than having to seek debt help.

Eight out of ten British households say they are reining in their Christmas spending according to the most recent MoneyMood Survey from Legal & General.

This ratio of consumers say they anticipate spending overall to be equal to what they spent last year, while almost a third say they're planning to spend less than during Christmas 2009.

More than half the people surveyed said they're even planning to keep to a budget, with the average spend per household coming in at £300, while and four out of five who are budgeting say they'll spend no more than £500.

Debt expert, Kevin Still says, "Budgeting carefully is key to avoiding unexpected debt problems, however, not all UK households are able to work within a reasonable budget if they suffer a major change in circumstances, like of income.

Debt advice and debt help should be considered if the budget doesn’t add up even after making serious cuts."

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