Majority of Xmas debts to be paid off within three months

66% of UK households expect to return to their normal financial state within three months after Christmas, according to research from Ferratum Group. In last year’s Winter Barometer, this figure was just 44%. The Ferratum Winter Barometer, conducted in November 2019, surveyed over 31,000 households across 14 countries, including the UK, about their spending habits over Christmas. The survey revealed that 34% of UK households expect to pay off all of their Christmas loans or credit purchases within three months, with nearly the same number (32%) saying that it will take two months or less. Just 10% of households say that they will still be paying off their Christmas purchases after six months.

Source: Best Advice
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