Millennials set to put Christmas on credit
69.1% of Brits will rely on credit cards, borrowing from family or friends, or taking out payday loans to foot the Christmas bill this year, according to research by price comparison site, finder.com. Its survey of over 2,000 people found that Millennials are planning to spend approximately £416.73 on Christmas gifts this year. And they are the most likely to live beyond their means, as one in three will resort to payday loans and 55% will rely on credit cards.
finder.com recently launched Icebox, a Google Chrome plugin that allows consumers to put their online basket items ‘on ice’ for more time to consider their purchases. This either replaces the ‘buy’ button or works as a pop-up on over 400 of UK’s top online stores including Asos, Next and Topshop. Jon Ostler, CEO at finder UK, says: “For the two-week countdown to Christmas it’s those last-minute buys that can often be the most costly. It’s not too late to set yourself a budget based on what you can afford and finding the best price for the gifts your friends and family will love. Icebox really helps you to plan your online Christmas shopping by comparing prices of products across retailers and giving you that little extra time to consider your purchases.”