No cards for many this year

Nov 24 2007 by Peter McCusker, The Journal

HALF of UK consumers save for Christmas to avoid racking up credit card debt.

A survey by business advisory firm Deloitte found that 50% of Britons kept money aside for Christmas gifts and food shopping, and only 16% planned to pay for the bulk of their festive purchases by credit card.

Northern Irish consumers were found to be ahead of the pack, with seven in 10 saving for Christmas, ahead of people from Scotland, the North-West and the East Midlands, 62% of whom saved.

Young women and older men proved to be the most likely to save.