Just over a fifth of Britons are planning to finance Christmas through borrowing from their bank or on credit cards, up from 17.5% in 2012, according to a survey.
The HSBC Christmas Spending Survey has revealed that 21.5% of UK citizens are planning to cover Christmas by borrowing of one kind or another, up 4% from last year. 15% are planning to use their credit cards to cover their seasonal spend, up 2% on last year while, 5% will use their overdraft a figure unchanged since last year.
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Another 1% will borrow from friends and family and the remaining 0.5% will use payday loans.
The amount of people paying directly from their salaries has risen 5% on last year to 70%, while those who will dip into their savings have fallen by 2% to 36%.
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