Be a money saving expert online this Christmas

Christmas record breakers

A staggering £14 billion will be spent online this Christmas by the most internet obsessed shoppers in Europe; British consumers.

27 million people will buy their Christmas shopping online during the festive season, a record according to Credit Action, as supermarkets, high street retailers and numerous small businesses take advantage of e-commerce and compete for British consumers’ hard earned cash. However, Christmas shoppers can take advantage too.

Payplan Christmas budget

Payplan encourages sensible spending and careful budgeting over the Christmas and New Year period, especially for its thousands of clients receiving help dealing with their debts. Shopping online can reap further benefits for those needing to save money, especially for those who have little to spend and rely on reducing costs and being thrifty.

Add up all the benefits of online shopping, and you could save yourself time, stress and a small fortune:

No need to queue jump
No car parking costs
Competitive prices from UK and abroad
Open 24 hours a day
No snow, wind, ice or rain
Excellent facility for those unable to leave the home

Online shopping security

Remember, whilst there are genuine benefits to making purchases online, it is important to use the internet safely. The government led Consumer Direct offers useful advice for consumers buying goods online, especially by learning how to keep your personal details safe, such as your credit or debit card details.

Payplan can offer budgeting and free debt advice on freephone 0800 280 2816 or by submitting your details online using their debt assessment

Filed Under Budgeting, Debt News | Trackback | Leave a Comment

Child Benefit – 25 million peoples’ records lost

Fraud Alert

UK families receiving Child Benefit have been urged to remain ‘vigilant’ and to report any unusual activity from their personal bank accounts to their bank.

Her Majesty’s Revenue and Customs (HMRC) yesterday admitted losing 15 million records of Child Benefit recipients containing the personal data of 25 million individuals, including National Insurance numbers, children’s names and addresses and Bank Account details.

Two computer discs, which held the data of all parents with children under 16 years of age, went missing through their internal postal system. For further information, HMRC have set up a Child Benefit Helpline on 0845 302 1444

Filed Under Debt News | Trackback | Leave a Comment

Are you a Christmas credit card tart?

Over 63% of the £53 billion pounds spent by consumers over Christmas and New Year will be charged to their plastic cards, increasing their Christmas debt.

Figures from APACS (the UK trade payments association) suggest that Christmas spending will increase on last year. With this in mind, it’s highly possible that many consumers are buying Christmas presents, food shopping and even their mortgage payments (See ‘Are you using Credit Cards to Pay Your Mortgage) with credit in the hope of ‘tarting’ their credit cards in the New Year to a 0% balance transfer.

Credit Crunch Time

However, the recent credit crunch and rising base interest rates has contributed to the demise of these deals, and many Christmas shoppers could have trouble meeting their minimum monthly payments in the New Year, let alone paying larger amounts of their Christmas debts back .

Those that budget over December and January will fair better, but if you feel you’re going to be over-stretching your balance-sheet during the festive season, or, if you are already struggling, then remember to seek advice as soon as possible.

For immediate, confidential and free debt help and budgeting advice, call Payplan on freephone 0800 280 2816 or submit details of your financial situation online to an experienced and sympathetic adviser using the Payplan debt assessment.

Filed Under Budgeting, Debt News | Trackback | Leave a Comment

Have your homemade Christmas cake…

…and eat it!

With the average cost of Christmas nearing £400 per person, some reports suggest that despite the recent ‘credit crunch’, spending may not slow down as much as was previously expected.

DIY Christmas

However, when the late January and early February bills fly through the letterbox, will you be wishing you’d managed your Christmas budget better?

One way to prevent this from happening to you, is to see how much cash you could save with a little ‘Christmas Do-It-Yourself’. Here are some simple money saving tips to go into your ‘Christmas hamper’ of gift ideas that could save you a fortune:

Cooking, Baking – cakes, mince pies, Christmas puddings

Preserving – pickles, chutneys, jams

Brewing – homebrew (beer or wine)

Knitting – scarves, gloves, hats, baby clothes

Crafts – Christmas cards, Christmas tree decorations

Gardening – Christmas wreaths

Christmas Day

With over a month until Christmas Day, there’s still plenty of time to get busy doing some or all of the above.

When you’re ready, put your homemade ‘Christmas fayre’ in a cheap and cheerful wicker basket (Wilkos are good for these), and give to your loved ones as a Christmas hamper. To make the finishing touches, visit a local florist and buy some cellophane, ribbon and small gift card to cover and decorate the basket.

If there’s any money left, why not spruce up your Christmas surprise with a decent bottle of wine, although, by the time you’ve put all this together, you may consider drinking it yourself!

For further ways to budget for Christmas and to get general advice on your household expenditure, have a look at the Payplan Money Saving Tips section, or for debt and budgeting advice submit your details online through the Payplan debt assessment.