Latest Debt News
Last-minute shoppers splash out
19/12/2005 12:09:00
There are plenty of people who have left their shopping to the last-minute, according to new research from Sainsbury's Bank.
Not only are shoppers leaving it late, but they seem more than happy to pay for their purchases on plastic, which will see them storing up their Christmas debts.
The last week before Christmas will see consumers splash out £9.58 billion, which is £1.91 billion more than over the same period last year.
Generosity knows no bounds, with 1.1 million of us willing to spend more than £1,000 and 2.88 million happy to spend between £501 and £1,000.
More worryingly, 19 per cent of last-minute spenders will put their shopping spree onto plastic to deal with at a later date.
This means that 17 per cent of people will still be paying off debts two to three months later, with eight per cent taking between four and 12 months to settle their festive finances.
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