Friday, February 13, 2009
Category:
Secured Loans
On the eve of St Valentine’s Day, it would seem that over 10 million are cutting back on the Valentine’s Day spirit.
According to Abbey, 5 million of us are dining in rather than out. Gents are worrying more than ladies about how their partners may react to cutbacks as romance appears to be the latest thing to suffer as a consequence of the credit crunch.
More than half of us will be celebrating Valentine’s Day, however 39 per cent will spend less than in years gone by. Some will take advantage of two for one meal deal vouchers, and some will go out for dinner the day before or after Valentine’s Day to avoid overpriced meals on the days itself.
When it comes to Valentine’s Day presents, it would seem that less is more. Over a third who are cutting back intend to do so by spending less on presents for their loved ones. More than a quarter say they wont buy a gift at all, and more than 12 percent have decided to make rather than buy their Valentine’s cards this year. On average, cutting back is said to potentially save cash strapped lovers on average £42 each. Men supposedly worry more than women about this, with 18 per cent versus 6 per cent.
Commenting, Susan Voase, Abbey Banking spokesperson, said "Cash-strapped Britons will be hoping that it's still the thought that counts as they turn to more cost-effective ways to show their love this Valentine's Day. But while romance may be the latest casualty of the credit crunch, more than half of us are still planning to celebrate Valentine's Day this year, proving that romance is down but not out by cooking a meal at home this year to save money.
............................................................................................................................
Romantic homeowners who have used credit or store cards to purchase Valentine’s gifts, or who are still counting the cost of Christmas, could consider taking out a
secured loan to consolidate their existing debt. One of many options, to refinance existing debt, a secured loan may be repaid over a term to suit the borrower from 5 to 25 years. When using a secured loan to consolidate existing debt, it should be remembered that consolidating existing debt may increase the amount paid back overall and extend the repayment period of your debts.
