Post Office points to Yuletide borrowing

12 November 2004
Close to one in five Britons has no idea how they will pay for Christmas, or is already planning to take out a loan to cover their spending over the holiday season.

Head of marketing at the Post Office Mike Smith believes it is important to borrow sensibly when it comes to Christmas time, and not place the debt on plastic.

"Christmas time can be an expensive time for most of us and we usually end out splashing out more than we intended," he observed.

"It's important to borrow sensibly and consider options such as being able to take monthly payment holidays and a loan where there are no early repayment penalty charges."

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