TV expert slams Christmas spending "misery"

02/12/2008

A Christmas debt warning has been issued by celebrity financial expert Jasmine Birtles.

The advisor, who works as This Morning's financial expert, said that excessive festive spending has created "misery" for consumers, who find themselves overstretched and facing big loan and card repayments.

Ms Birtles' comments come at a time when people are having to tighten their belts due to the credit crunch and economic slowdown.

Lloyds TSB research showed recently that this trend is having a big effect on Christmas spending, with eight in ten people feeling that they have less money to spend than they did last year.

Over two-thirds also said that they had already started their festive shopping, in order to hunt out bargains.

Ms Birtles said: "All this spending has created misery. Not just after Christmas with the debt but at Christmas there is an empty feeling of disappointment and frustration. This is not what Christmas is about.

"It's our fault for giving so much, but I'm actually pleased that we are being forced to stop. We really have to think about giving ourselves rather than just money."

Tags; Budgeting Advice, Credit Card Lifestyle,

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