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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`

Debt warning for those without Christmas savings

01/08/2007

British consumers who do not save for Christmas open themselves to the possibility of amassing debt during the festive period, it has been claimed.

A study by Britannia Building Society found that people in the UK plan to spend an average of £620 this upcoming Christmas.

Meanwhile, 47 per cent of respondents said they do not have any specific savings for these expenses - including 36 per cent of households which include children.

In order to avoid getting into debt, the building society recommends that people begin saving about £124 each month, beginning in August.

Neville Richardson, Britannia`s group chief executive, explained: "It is still not too late to start saving for Christmas right now and those who do can really reap the benefits of being organised with their finances by adding pounds in interest to their own contributions."

An Invesco Perpetual report recently indicated that it costs more than £43,000 to raise a child to the age of 18.

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