OPINION ON SUNDAY: Danger time for yuletide wrap artists

MOST of us look forward to the buzz of shopping at Christmas. However, with most of us spending an average of pounds 560, for some it can mean a vicious cycle of credit and debt.

Ever-increasing pressure to buy for friends and family can make credit deals appear attractive.

However, all credit has to be paid back - there is no such thing as buying on the never-never.

Did you know that shoppers will spend 15 hours and walk 20 miles looking for Christmas presents?

With only 10 shopping days left until Christmas, the General Consumer Council has devised the following top 10 tips to avoid debt this festive season.

Set a budget in advance and stick to what you can afford.

Try to include all the costs of Christmas when planning your budget: did you count taxis to and from the office party?; what about the unexpected gift from an old friend and you have to return the favour?

All these costs can add up, so it's important to plan ahead and be prepared.

Shop around and compare prices.

There is a lot of competition in the market at the minute, especially with popular gifts like CDs and DVDs.

Check out Internet sites and supermarkets that now offer gifts and clothes alongside more traditional goods.

Don't buy on impulse - make a list of what you need.

This comes down to planning. Don't go out at four o'clock on Christmas Eve and expect to get a handful of bargains. Plan what you want and where you need to go - make a list and tick gifts off as you get them.

Look out for items during the year for stocking fillers and small gifts. Use the January sales to pick up wrapping paper and decorations for a fraction of the price they were in December. While others don't want to think of Christmas for another 12 months, you'll have it all wrapped up!

Make use of other sales or promotions during the year as this helps to spread the cost and you can spend less time shopping in the busy Christmas rush.

Think before you use your credit card - check the Annual Percentage Rate (APR) and look for the best credit card deal.

Credit can be a very positive experience for some, but all credit has to be paid back. The credit card market has grown considerably in recent years and there are good deals available, but read the small print and know what you're getting into.

Withdrawing cash on your credit card can cost you dear.

Use cash where you can. Check the small print on your credit card terms and conditions, as often, if you use your card to withdraw cash, you will be charged interest immediately.

Plan your credit card repayments -- are you reducing the balance or just paying off the interest?

Credit card statements can be confusing and it's difficult to know what you have paid and what you haven't.

However, it is important to check your bills when they come in and try to pay more than the minimum payment each month.

Think twice before getting a store card as the interest is often much higher than normal credit cards.

Don't feel under pressure from traders offering you a discount if you open a store card on the day - don't be afraid to say no.

Don't go overdrawn at Christmas - your bank will charge you.

Check your bank statements and know how much you have in your account. If you do go overdrawn, check if your bank or building society offers a free overdraft facility - this can provide a short- term solution, but remember, your bank will recover what you owe once you're back in funds.

Remember, all credit has to be paid back - seek advice if you have problems managing your payments.

If you think you are in debt or are in danger of getting into debt, get expert help immediately. Whatever you do, don't ignore it.

Contact your local CAB or Independent Advice Centre or the Consumer Credit Counselling Service for expert advice. Details can be found on our website http://www. consumerline.org.

We hope that consumers enjoy Christmas and that it is not overshadowed by the fear of debt.

Merry Christmas and a happy New Year in the black.

Copyright 2003 MGN LTD
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