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More than 4 million fear they`ll be made redundant Consumers took on more mortgage debt in July Debts called in by parents Teenagers `scared of debt` Rising household costs could pressure people in debt Pensions debt may impact workers` retirement funds Welsh young adults `at highest risk of debt problems` Over 50s can`t afford to enjoy retirement because of debts Budget: tackling the nation`s debt Short-term debt: `no need for price control` The cost of clearing debt Education debt Tackling the national debt Number of mortgage deals on offer exceeds 3,000 Almost 5 million take on debt to pay household bills OECD: household debt more than 120% of disposable income Petrol price falls help people in debt Amount of mortgage debt taken on at lowest level in ten years Northern Ireland sees significant IVA rise Overdraft debt `becoming more expensive`

Christmas spending slowdown expected

13/11/2008

Christmas spending is expected to stagnate this year, as consumers look to protect their finances and avoid getting into debt as the recession approaches, a leading market research company has said.

Mintel’s survey found that 41% of those questioned said they will be spending less this Christmas – compared with only 22% last year.

The Telegraph states that Christmas spending has grown by 5% per year on average since 2000, and grew slightly last year, despite predictions that sales growth would stall.

However it appears that this year consumers are likely to rein in spending more strictly, with Mintel claiming that only those without mortgages or other financial commitments would be spending freely.

A spokesperson for Debt Advisers Direct commented: “In 2008 we have seen more and more evidence that people are attempting to cut back on outgoings, so it makes sense that this Christmas will be a lot quieter for retailers as consumers avoid getting into debt.

“However, there will still be some people who find themselves in trouble with debt once the festive period is over – and we advise anyone in that position to seek debt advice as soon as possible.”

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Debt Advisers Direct offer free debt advice and a range of debt solutions, including debt management plans, debt consolidation loans and IVAs (Individual Voluntary Arrangements).

More than 4 million fear they`ll be made redundant 16/12/2010 - According to R3`s quarterly personal debt tracker, more than 4 Consumers took on more mortgage debt in July 26/08/2010 - Consumers took on £2bn more mortgage debt than they repaid Debts called in by parents 26/08/2010 - According to research, `the bank of Mum and Dad` is Teenagers `scared of debt` 19/08/2010 - Nearly two thirds of teenagers are `scared` of debt, according