Poll: Are you worried about being able to afford everything this Christmas?
One in five Britons is taking on extra debt in order to pay for this year's Christmas dinner, a charity has found.
The Money Advice Trust (MAT), which runs National Debtline, found that 21% of people have already borrowed, or plan to borrow money to put food on the table, equating to 10.4 million people across Britain.
One in three (34%) Britons is also borrowing money to cover the cost of Christmas presents, which would be 16.9 million if this proportion was projected across the country.
The findings also suggest that one in 20 people, equating to an estimated 2.3 million Britons, have already missed or expect to miss a household bill payment in order to fund their Christmas spending. This includes people falling behind with "priority debts" such as rent, council tax and energy bills, the MAT found.
Of those going into debt to pay for Christmas dinner, more than three quarters (78%) are borrowing on credit cards, with overdrafts and store cards also popular choices.
The MAT said that last Christmas, the number of calls to its National Debtline surged by 80% between December and January, while the number of visitors seeking advice via its National Debtline website jumped by two-thirds.
The charity has launched a campaign called 12 Days of Debt Action to offer tips on steps that households can take to reduce the risk of taking on unmanageable debt as a result of Christmas costs.
It said people can take action by setting a budget for their festive spending, recording what they spend, paying their household bills as soon as they get them to reduce the risk of having no money left to cover them after Christmas, shopping around for the best deal, looking out for free activities and getting advice now if they are worried about debt rather than putting it off until the New Year.
Joanna Elson, cheif executive of the MAT, said: "Millions of Britons are putting Christmas on credit, and while many will be able to pay this extra borrowing off, we know that a large number will fall into debt problems in the New Year.
"The welcome economic recovery is creating more confidence - but it is crucial that households do not overreach, particularly as rises in interest rates are on the horizon."
