90% of Brits back away from Xmas borrowing
Nine in ten UK consumers are planning to pay for Christmas this year out of savings or their monthly salary, says a new survey.
According to Mycallcredit, only eight per cent of Brits this year will put some or all of Christmas on credit, suggesting that people have a much more stringent attitude to borrowing.
Of those people, 67 per cent plan to pay off their Christmas expenditure within three months.
Consumer affairs director Mel Mitchley says: 'There's a lot of emphasis on lenders to lend responsibly but there is also an onus on the individual to borrow responsibly.
'Our survey shows that message is getting through and it’s going to be individuals who are piling on the pounds this Christmas not their debts.'
The research also revealed that those aged between 25 and 44 were likely to spend the most at Christmas, with 8.5 per cent claming they will splurge £1,000 or more.
Two in five over 65's said they would pay out less than £250 at Christmas. | 
