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Festive saving schemes 'could bring back habit'
Thu 6 Dec 2007 4pm
Christmas saving clubs can help to get people into the right mindset to save money, an expert has claimed.Spokesperson for the Consumer Credit Counselling Service James Ketchell said that putting money aside is important all year round, "rather than just the month before Christmas".
However, he also stated that Christmas saving schemes are worthwhile because they encourage people to get back into "the saving habit" - something that is been lost in an age of easy credit and casual attitudes to borrowing.
Mr Ketchell commented: "The important thing is for people to save - it doesn't matter what way they choose to do that, everybody is different."
He added that saving money in a scheme for Christmas can help people to avoid debts and large credit card bills in the new year.
Consumer attitudes towards Christmas saving clubs have been mixed since last year's Farepak incident, when thousands of people lost their money after the company went into administration.
