It’s the last few shopping days before Christmas and Britons across the land will be rushing out buying presents and food for the big occasion. However, a survey undertaken by YouGov on behalf of the payment technology firm Intelligent Environment, has found that over a third of us will go into debt to pay for the festivities. 
One in three Britons will either use their overdraft to cover their extra spending or put the balance on their credit cards. Others will take out personal loans or borrow money from their family or friends.
With approximately 44% of the UK already struggling with debts other than their mortgages, these findings are sure to increase that figure.
The survey also revealed that 31% of Britons will spend much more than they can afford over the Christmas period, many of these will already be in arrears with credit card payments and personal loans.
Last week an adviser to the Prime Minister urged parents to resist coming under pester-power from their children and spending large amounts of money on expensive gifts, and to keep within a reasonable budget.
Chief Executive of the charity The Mothers’ Union, Reg Bailey, said: ‘This is a stressful time of the year. There’s pressure to buy expensive things.
‘Children admit they pester their parents. But it’s terribly sad that we end up leaving parents feeling utterly guilty after Christmas, having desperately tried to make ends meet.’
Bailey then went on to criticise the Littlewood’s television advert that has already come under fire from parents who are annoyed that the commercial infers that it’s Mothers, not Father Christmas, who bring the presents for children.
Mr Bailey fears that commercials such as this give the impression that we need to buy our children expensive gifts and he worries that too many people will plunge further into debt: ‘Let’s reduce the anxiety and stress for parents, because this is a time when people are in difficult financial straits,’ he said. ‘We don’t want everyone getting into debt.’
Ministers are worried that many Britons who have been refused credit by their banks will turn to Payday Loan companies to fund Christmas, plunging them further into debt and repaying their loans at astronomical interest rates.
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