Friday, December 30, 2011
Category:
Consolidation
According to a survey conducted by Post Office Home Insurance, 74 percent of respondents – equivalent to 36 million Brits – are planning to stay in with their family and friends on New Year’s Eve.
The trend for a ‘big night in’ rather than a ‘big night out’ is reportedly continually increasing in popularity. Findings have shown that 72 percent of respondents chose to celebrate at home in 2010 and 55 percent chose to do so in 2007. It has been revealed that 7 percent are planning to either host or attend a dinner party, whilst 10 percent will be ‘dancing the night away’ at a house party.
When planning how to see in the New Year, expense was found to be a significant deciding factor. In fact, 14 percent reportedly cited cost as the primary reason for their plans. Despite this, findings have shown that those who decide to party at home will still spend an average sum of £95 on food and alcohol, compared to the £48 average that will be spent by individuals who head out to celebrate.
The research also uncovered that 27 percent are intending to spend less on this year’s celebrations than they did last year. The average budget for those who will be celebrating and spending money on doing so, was found to have reduced from £59 per person to £55 this year.
……………………………………………………………………………………………….....
Homeowners who are finding their finances tight following the costly Christmas period could consider taking out a secured loan to tie up any existing debts. One of many finance options available, a secured loan could be used to consolidate any expensive credit cards that may have been taken out to purchase Christmas presents for example.
Secured homeowner loans can thereby enable borrowers to reduce their monthly outgoings – in turn, freeing up extra money each month, which could help to relieve the pressure. However, if opting for a secured loan to consolidate debt, it should be remembered that consolidating your debt may increase the amount you pay back overall and extend the repayment periods of your debts.
