Buying with Credit May Slow
Consumer confidence has been damaged by news of escalating problems in the financial sector, according to debt counseling service provider Thomas Charles. In response, some Britons say they plan to cut back on their credit card purchases this Christmas.
This summer’s failures in the
One quarter of those questioned by Thomas Charles and market research firm YouGov say they plan to refrain from spending on their credit cards.
The study indicates that not only are consumers thinking about how much they are spending these days, they are making an effort to stay within their budgets, says Thomas Charles director James Falla.
Mr. Falla is not entirely certain that shoppers will be able to keep to their plans and avoid credit charges during the festive season, when shopping tends to peak. It can be difficult for consumers to maintain their resolve at this time of year.
Thomas Charles’s in-house research indicates that approximately 15 percent of Britons have debt over £10,000. Women are less likely to have significant debt loads than men, according to the study.