A typical UK household spends just over £2,500 in a month but that jumps to £3,240 in December, as Britons spend an extra £740 over the festive period, Bank of England figures show.
One in three of us will turn to credit and finance to cover the expense as the cost-of-living crisis drags on, according to a study by John Lewis.
Taking out a credit card that charges zero interest on new purchases for a lengthy introductory period is tempting and can work out nicely for those who handle them carefully. However, they are also risky as borrowers face punitive double-digit APRs on any unpaid balance the moment it ends.
James Daley, managing director of consumer group and ratings provider Fairer Finance, warned: "Interest-free periods have been falling while APRs are rising too." Before the cost-of-living crisis, it was possible to find interest-free introductory rates stretching to 30 or even 36 months.
Denne historien er fra December 03, 2023-utgaven av Sunday Express.
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Denne historien er fra December 03, 2023-utgaven av Sunday Express.
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Birthday boy Jesurun gift-wraps points for the unbeaten Blades
JESURUN RAK-SAKYI struck twice on his 22nd birthday as unbeaten SHEFFIELD UNITED defeated LUTON 2-0 at home to move level on points with Championship leaders SUNDERLAND.
PALACE REIGN FOR KINGS OF THE ROAD
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Punch & Judy next in line to be 'cancelled' fears veteran
HE'S been entertaining children and adults alike for six decades with his traditional Punch and Judy shows.
How Rick's traumatic childhood drove him to succeed
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Harry extends 'solo' trip without Meghan
PRINCE Harry has extended his solo trip abroad without wife Meghan, the Sunday Express has learned.
How Queen bagged her cheeky escapes
IN a lifetime of meeting the public, the late Queen famously used her handbag to secretly signal to her courtiers when she was ready to leave an event.
Trump's return to brush with death spot
A SECRET Service ring of steel surrounded Donald Trump last night as he prepared to hold a rally in the same spot where he was almost killed by an assassin three months ago.
Migrants perish as Cooper slams gangs
A TODDLER trampled to death in a small boat was among four migrants who died off the French coast yesterday.
‘Inspirational’ Kemi wins backing of US governor DeSantis
KEMI Badenoch's leadership bid has been endorsed by one of the US Republicans' most influential figures.
Leadership hopeful fired up by Reagan
JAMES Cleverly wants to bring the spirit of Ronald Reagan to the Tory Party as he enters a critical week in his bid to become leader, he tells the Sunday Express today.