Christmas Shopping Debts

Christmas shopping in Scotland is expected to bring in £6bn in the 6 days between the 19^th and 24^th of December as huge discounts are offered in an attempt to lure shrewd shoppers into stores. Over £2 million was spent on Saturday the 19^th of December alone as more than 1.5 million people flooded the shops to buy Christmas presents. Following a relatively unsuccessful Black Friday last month, many big name companies have chosen to begin Christmas sales earlier than Boxing Day. Deloitte consumer business partner, Jason Gordon commented: ‘With the exception of 2008, this is the deepest pre-Christmas discount we’ve seen in the last decade.’   If you need help with your finances, Trust Deed Scotland may be able to help you get back on track. Try the Debt Solutions Wizard tool to find out What is a Trust Deed and how the careful utilisation of one could help you to write off a percentage of your debt and solve your money worries. What is a DAS? Is a DAS worth it? Debt Management Plan vs Debt Arrangement Scheme   Last year, the Saturday before Christmas, (which people have taken to calling, ‘Panic Saturday’, due to stressed shoppers trying to fulfil their last minute Christmas lists on this day), was the biggest day of the year for sales and the trend has continued for the second year running. It is suspected, sales this week will continue to skyrocket as Christmas is on a Friday this year, leaving 5 full shopping days after Panic Saturday.   Visit our info hub article for Money Saving Christmas Tips.  

Christmas Shopping Debts?

An estimated 23% more will be spent between the 19^th of December and the 24^th of December this year than during the same period last year when Christmas was on a Thursday. The Centre for Retail Research estimate 12.6 million people will shop in the sales across the UK in the run-up to Christmas. Deloitte’s Gordon surmised: “Whilst this is good news for consumers looking to grab a bargain, it is a clear sign that retailers are being faced with what is now an annual uphill battle.” Remember to manage your spending while Christmas shopping as one in five Scots are still paying off last Christmas. If you overdo it with your Christmas shopping debt, there is a very real fear that you could be one the wrong end of the Blue Monday blues in the following January. For information about Debt Help in Scotland call us on 0141 221 0999 or Contact Trust Deed Scotland today.