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Saga: Chirstmas spending lower than ten years ago
Saga Platinum says adults are set to spend an average of £435 on presents, compared to £516 back in 1999.
Taking inflation into account, the figure from ten years ago is equivalent to £666 in 2009 – meaning there is likely to be a 35 per cent drop in real terms.
According to Saga, the over-50s remain a little more generous, reducing their Christmas present spend by just 25 per cent.
Meanwhile, the firm says the number of consumers set to pay for Christmas using their credit cards has remained the same at 16 per cent.
Some 28 per cent intend to pay back the balance immediately or do so when they next get paid, Saga stated – potentially those with 0% credit cards.
Visa recently claimed that over £175 million would be spent on its cards on Monday November 30th alone.
The firm said concerns about the recent postal strikes were leading online customers to place orders earlier than ever this Christmas.
Moneyextra.com recommends you take independent financial advice before acting on any article
Back2009-12-04 14:04:40 © Moneyextra.com
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