Parents cut back on Christmas spending

17/12/2009

Forty per cent of parents are planning to spend less this Christmas to avoid debt problems'>debt problems.

A survey by the Financial Services Authority (FSA) found that half of families have no "financial air-bag" to protect them in the event of a change of circumstance, such as job loss or divorce.

Sixteen per cent of parents said they struggled with money over the last year. Three per cent, meanwhile said that they needed to reorganise debt repayments because their finances were in such disarray.

If you're having trouble budgeting, then why not take a look at our debt calculator test? It costs nothing and can help you reorganise your outgoings to get you and your family back on a level footing.

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