PREPAID CARDS

Rent Arrears Surge following Christmas Spend

Christmas spending saw a surge of rent arrears in December as people struggled to accommodate their budget for presents and bills, new figures show.

The Christmas period saw 11.7 percent of all UK rent go unpaid or late, a rise from 9.7 percent from the previous month, The British Property Federation (BPF) revealed.

This amounted to £276 million worth of unpaid rent across the UK in December, the highest total since December 2009.

“The Christmas break has taken its toll on tenant finances,” said David Newnes, LSL property services, owners of Your Move and Reeds Rains.

“Arrears have been rising since October as public sector spending cuts start to bite in many areas of the country.”

The figures show however that rent prices are easing for the first time since this time last year, according to the Buy-to-Let Index from LSL Property Services plc.

The average UK rent dropped by 1.2 percent to £684 per month in December, the lowest average since July 2010.

Despite this though, rents were still 3.8 percent higher than they were a year ago.

Compare Prepaid Credit Cards Online

If you often find your monthly income struggles to accommodate your essential bills such as rent, you may find budgeting with a prepaid credit card could help.

Most people find their money slips through their fingers, with many not even knowing what they have actually spent it on.

Small items which you had not budgeted for can all add up, so by working out how much disposable income you have left after bills you can load this onto a prepaid card to prevent you from overspending.

The card does not have an overdraft facility so the user can only spend what they load onto the card, preventing them from having no money left at the end of the month for rent.

Tags: bad credit credit cards, BANK ACCOUNTS, bank cards, basic bank accounts, best prepaid cards, Card One Banking, charity credit cards, compare credit cards, compare prepaid cards, compare prepaid cards online, CREDIT CARDS, discover prepaid cards, fairfx anywhere card, pay as you go credit cards, PREPAID CARDS, prepaid cards UK, prepaid credit cards online, prepaid credit cards uk, prepaid debit cards, prepay debit cards, TRAVEL MONEY CARDS, white eagle prepaid card