Prepay Cards to Curb Money Worries

Published on 1 January 1970 by Raffick Marday

Money worries are causing many Brits to limit their Christmas spending this year new research reveals. Try using a prepay card to budget your Christmas costs this year.

The Skipton Building Society study showed 78 percent of Brits are not happy about their current financial security, and are feeling the pressure to supply loved ones with the latest gadgets for Christmas.

Although many have previously relied on savings to carry them through the festive period, 24 percent admit they have nothing saved for these extra expenses this year.

“Christmas is supposed to be a time of relaxation and enjoyment, but all too often money worries ruin celebrations,” said Kris Brewster, Skipton Building Society products head.

“People are placed under pressure during the holiday to spend large amounts of money on presents for loved ones, something they may not have the resources to do.”

Those in the East of England were shown to be the least happy with their finances scoring 3.9 out of 10 on Skipton’s financial happiness scale.

Those living in the East Midlands and South West were found to be the least worried about their financial situation scoring 4.8 out of 10. The national average was 4.3.

Christmas Spending with a Prepay Card

Prepaid credit cards are an excellent way to ensure you do not overspend on Christmas this year.

Keeping to a budget over the festive period is notoriously hard to do when you struggle to find a suitable present for everyone, postage costs add up and last minute shopping causes many to panic buy.

However, if you load your money onto a prepaid card you can be certain you will not go over this as the card does not have an overdraft facility to dip into unknowingly.

Instead the card user can only use the amount they loaded onto the card so it is impossible to get into debt.

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