Friday, November 6, 2009
Category:
Secured Loans
According to new research by Egg, British parents were set to spend £200 million on entertainment for their children this Halloween.
This equates to £15.12 per family, with sweets, costumes, parties and gifts being on the shopping list.
Such expenditure was anticipated to commence during half term and, during this school break, Egg discovered that virtually £270 would be spent by the average UK family. The five most popular activities were established as being: dining out at lunchtime (60 percent), visiting the cinema (52 percent), purchasing DVDs (42 percent), buying books and comics (41 percent), and handing out additional pocket money (24 percent).
During the study, 77 percent of parents admitted that they part with more money than they can afford in order to keep their children entertained during half term. For 31 percent, it is viewed as an important outlay for preventing their children from becoming bored. Furthermore, 9 percent of parents feel that such expenditure is a sign of love, whilst 4 percent are merely following in the footsteps of other parents.
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Homeowners who have used credit cards to fund half term activities, and who would like to consolidate these along with store cards, and hire purchase commitments, could consider doing so with a
secured loan. One of many finance options available, a secured loan for debt consolidation could allow the borrower to tie up any existing personal loans and credit cards. By doing this, the borrower could reduce multiple monthly repayments down to just one. This single monthly repayment could even be lower than the sum of current monthly repayments. However, when taking out a debt consolidation loan, it must be remembered that consolidating your debt may increase the amount you pay back overall and extend the repayment periods of your debts.
