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Saving for next Xmas could reduce debt problems

Saving for next Xmas could reduce debt problems

- Wednesday, 2 December 2009

Britons could ease the financial strain of the festive period by saving a year in advance.

That is the advice from the comparison site Moneynet.co.uk, which suggests that people can save themselves a holiday headache by putting money away for next year's Christmas.

Increased preparedness among the population could result in a lessened need for debt advice.

Andrew Hagger, spokesperson for moneynet.co.uk, said that by being organised consumers could save themselves from having to rely on loans.

He commented: "The best tip … is to start saving now for the following Christmas – not the one that's just coming up.

"It's getting used to putting something away each month, rather than relying on credit cards and then having to pay additional interest."

It was recently revealed by money.co.uk that as a result of Christmas Britons will face a collective debt of £8 billion, with 30 million people likely to have increased their debts by the New Year.
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