Christmas costs falling
November 27, 2007 by admin
Filed under News, News-Loans
The real cost of Christmas is falling steadily after taking inflation into account.
According to recent research by Halifax Unsecured Personal Loans, the price of the UK’s favourite gifts has continued to fall.
The study found that the price of games and toys has fallen most in the last year, dropping by six per cent, with woolly jumpers and socks falling in price by four per cent.
Indeed, in the past decade, the price of toys has gone down in real terms by 45 per cent, with spirits down by 26 per cent and brussel sprouts by 18 per cent.
“Our research shows that the cost of traditional Christmas favourites has actually fallen – good news for Christmas shoppers.
“However, just because the real price of items such as toys, CDs and Christmas cake has fallen, doesn’t mean we don’t need to budget and organize our finances.”
Halifax states that Christmas is as good a time as any to sort out finances, adding that it should not need to take up more time than decoration a Christmas tree.
Five-figure debts as young homebuyers load up credit cards
August 20, 2007 by admin
Filed under News, News-Credit-Cards
Young homebuyers are piling on debts onto their credit cards as they struggle to pay their mortgages, a debt charity said yesterday.
Figures from the Consumer Credit Counselling Service (CCCS) show that those who have bought homes under the age of 25 have over two-thirds more debt than their counterparts who rent, quite separate from mortgage payments.
The charity’s quarterly Debt Dashboard study, which surveyed 73,000 of the CCCS’ client records, shows that people who use their helplines who rent owe on average £12,113.
This figure soars to £20,290 among homebuyers.
CCCS chairman Malcolm Hurlston said: “There is a danger in young people getting on the housing ladder before they are ready financially.
“Before taking out a mortgage the under 25s should make sure they can still afford to live and not rely on credit to plug the gaps.”
The charity also revealed that unsecured personal loans accounted for more than half of the total debt recorded by young people who have come to them for help.
