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Don't fall into the trap of Christmas spending

Despite the fact that the last 18 months have been very difficult in the UK and around the world the vast majority of people seem to find huge sums of money for Christmas. Despite warnings that Christmas spending would reduce during the recession, if anything it has remained stable or on the upside. This is a very alarming trend in the UK and around the world because if income is tight and Christmas spending is still rising then ultimately more and more people in the UK are taking on debt.

While all of us like to see a smile on the face of our children, our families and our friends is it really sensible to take on debt, which could take years to pay down, just to keep people happy at Christmas time?

As hard as it may be for many people, we need to consider our income, our outgoings and ultimately what we can afford for Christmas as the shops and online retailers begin to crank up the pressure. Even though the UK government has for many years attempted to control the advertising of children's toys and children's equipment it is very difficult and is often visible in our everyday lives.

This places immense pressure on parents around the world to buy goods, which ultimately they knowledge cannot afford, that their children would like for Christmas. Christmas is the ultimate buy now pay later period in the retail calendar but one which many of us need to control in 2009.

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