How to avoid the dreaded financial hangover in 2008

The high street tills are ringing as consumers are spend, spend, spending this Christmas.

But with an estimated £2bn wasted on unwanted Christmas gifts last year alone, are we putting our money towards the right things and have we thought about the consequences for 2008?

Credit report provider Callcredit is offering some tips to help people avoid a financial hangover this Christmas:

Don’t be a Christmas turkey
Don’t panic buy on credit in the run up to Christmas
Don’t go overspend on seemingly ‘bargain’ special offers
Don’t forget to shop around
Don’t use all the same passwords and pin numbers online – you’ll be setting yourself up to become an ID fraud victim

Do be a financial angel
Do check your credit report online for a simple assessment of your credit rating
Do check whether goods are returnable or refundable when bought in the sale
Do use price comparison sites and shop around online for the best deals.
Do regularly change your passwords online and don’t use something obvious like your mother’s maiden name or date of birth

Owen Roberts, head of MyCallcredit comments, “With Christmas costing the average person more money year-on-year, we should all take time to make sure our Christmas spending doesn’t leave us with a financial hangover in the New Year.”