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Brits warned to budget for Christmas extras
November 30, 2011
By Caroline Johnson

Presents, travel and food are usually the major items on people's Christmas budget list, but there are a number of other costs involved with the festive season that can be forgotten.

Recent research from American Express Platinum Cashback Credit Card revealed that people are expected to spend the same or more on Christmas 2011 as they did last year.

The top 'extra' spend during December is drinks with friends, with many people neglecting to think about how much this can add up. Second to this is parties, followed by travel and New Year's Eve celebrations.

While 30 per cent of people intend to fund these with their monthly salary, many individuals could struggle to make ends meet over the coming months.

Julie Hay, head of credit cards at American Express, suggested that using a rewards credit card to purchase these little extras will help to ensure that spending has some benefit in the long-run.

She observed that the Platinum Cashback Credit Card is “the only card to offer you the chance of receiving double Cashback this time next year, by offering an uncapped loyalty bonus rate of 2.5 per cent in the Card anniversary month - perfectly timed to reward customers next Christmas ... and every Christmas thereafter”.