November 28, 2018

20 Truths About Holidays and Debt You Need to Know Right Now

A quarter of consumers take six months to pay off Christmas debts

According to MagnifyMoney, only half of the respondents to their survey on Christmas spending paid off their Christmas debt in less than three months, and 29 per cent of respondents require more than five months to fully pay off their debt, which accrues more and more interest as long as it’s left unpaid.

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