How many people are still paying for last Christmas?

Summers end is in site and I have heard Christmas mentioned a few times recently (yep really!) but you’ll never believe how many people are still paying off LAST Christmas!

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GetPaidTo’s Christmas Saver Club has just revealed revealed that one in five of the people they surveyed are still paying back last year’s holiday debt.* That’s 20% still in debt from a one day event 8 months ago. I find that pretty shocking don’t you!

The research also showed that nearly one in five (17%) are spending on gifts they can’t afford by paying via credit card and almost one in ten (7.5%) are using overdraft facilities.

Christmas is meant to be a lovely time filled with family and friends and traditions not a time of incurring huge debt. I can only imagine that those still paying off last years Christmas are actually really dreading this years seasonal expenses.

Planning and saving in advance is key to affording Christmas as well as having a realistic budget and only buying what you can afford. It’s all  common sense really but common sense can often go out the window in relation to Christmas.

Cashback and rewards website GetPaidTo has just launched a Christmas Saver Club with a difference– it is the only saver club where there is no need to make monthly deposits, no tie-ins, no penalties, or any other restrictions (sounds good to me!)

What it does instead is  allows users to complete tasks (such as taking surveys, referring friends and watching videos) and in return getting paid in GetPaidTo Points. With these they can build up savings without using any of their own money. In addition to this, when users shop online via GetPaidTo, they will receive cashback on purchases which they can keep safe in the Christmas Club until they decide they need it. Savings will be automatically released on 31st October, although users can withdraw their savings whenever they choose.

Sounds interesting !  To be savvy with money you have to use common sense and a little creative thinking. I like this savings scheme with a difference!

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*GetPaidTo commissioned One Poll to conduct a survey of 2,000 people in the UK from 21st – 24th July, 2015

 

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