Wednesday, October 12, 2011
Category:
Consolidation
According to Moneysupermarket.com, 60 percent of consumers are already concerned about how they will fund Christmas this year. Despite the festive season being a few months away yet, UK households are reportedly ‘struggling against the rising cost of living and the resultant squeeze on their wallets’.
The comparison site has disclosed this statistic following a poll of 4,000 people who were asked whether they were worried about the affordability of this year’s Christmas period, which was indeed found to be the case for 60 percent. It has been revealed that this marks a seven percent increase on the figure recorded in 2010 and a 15 percent increase on the figure recorded in 2009.
Findings have also shown that 55 percent of those who admitted to being worried about the Christmas period were ‘seriously concerned’ about how they would get through it. It has also been reported that this group of respondents admitted to feeling that things would be significantly tighter this year than they have been in years gone by.
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Homeowners whose finances are tight at the moment may wish to consider taking out a secured loan. One of many finance options available, borrowers often take out
secured homeowner loans to consolidate their existing debts. By tying these debts up into one place it is possible to reduce current outgoings, thereby freeing up useful money each month. 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.
