Tuesday, December 13, 2011
Category:
Consolidation
According to Barclays, their figures indicate that £46.9 billion will be spent this month. This equates to £17,540 worth of sales every second, which marks a four percent increase from December of last year.
Findings have shown that consumers will use their debit cards to pay for the majority of goods, with online shopping accounting for over 25 percent of this expenditure. In fact, it has been predicted that ‘a record’ £28.6 billion will be spent on cards throughout December. It has been revealed that supermarkets are likely to take £6 billion, whilst petrol stations are likely to take £1.5 billion. Department stores will reportedly see their customers spending £849 million.
In December, it is expected that £18.3 billion worth of cash will be withdrawn from UK banks and ATMs. Friday 23rd December is predicted to be the busiest day for spending on debit cards, with Barclays expecting expenditure in excess of £1.4 billion. On Saturday 24th December, £744 million worth of ATM withdrawals are expected to be made. It has been forecast that between 11am and 12pm on this date, £24,890 will be withdrawn from ATMs every second.
When it comes to the ‘top cities for spending’, it has been revealed that the greatest level of spending will take place in London, with expenditure in excess of £5 billion. Greater Manchester and Birmingham will reportedly rank second and third, with expenditure at almost £2 billion and £1 billion respectively.
………………………………………………………………………………………………....
Homeowners who are finding their finances tight following Christmas could consider taking out a secured loan for consolidation. One of many finance options available, a
secured homeowner loan could be used to consolidate existing debts for example. In doing so, borrowers could reduce their current monthly 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.
