Cost of Christmas presents to put pressure on Brits this year

The cost of buying Christmas presents this year will push two fifths of Brits to turn to loans, credit cards and overdrafts for help, a new survey has found.   

According to freshbusinessthinking.com, the report from Vouchercodes.co.uk revealed that the number of those pushed to take out loans and other financial cushions has risen by six per cent from last year from 35 per cent to 41 per cent. Furthermore, 17 per cent are still paying off the costs of the previous year's Christmas. 

Anita Naik, lifestyle editor of Vouchercodes.co.uk, commented that the cost of Christmas is continuing to rise and that many feel worried they won't be able to afford to buy their families the things they want. 

Generous gift-giving is what is partly fuelling Brits to seek extra help, as the average Brit is expected to spend