Money Box Live: Christmas Spending and Scams
Summary
Moneybox Live delves into the financial realities of the festive season, revealing that Christmas costs are up significantly and nearly half of people overspend. Experts offer strategies for managing debt, identifying genuine deals, and even postponing shopping to save money. The episode also highlights the alarming rise in Christmas scams, providing essential tips to protect yourself and loved ones. Finally, a chef shares clever ways to cut dinner expenses, encouraging a focus on shared experiences over excessive spending.Episode description
This week we're tackling the cost of the festive season and looking at how to avoid scams.
The cost of Christmas is up almost a quarter over the last three years according to the The Centre for Economics and Business Research. What can you do to keep costs down?
And as figures from UK Finance, the trade body for banks, suggest nearly £100m will be stolen from around 200,000 people through fraud and scams over the Christmas period we'll discuss what you can do to avoid them.
With Felicity Hannah today to go through your questions and comments we have Sarah Pennells, consumer finance specialist at Royal London and Professor Sharon Collard, Research Director at the University of Bristol's Personal Finance Research Centre.
We'll also be hearing from Paul Askew a chef and the owner of the Art School restaurant in Liverpool and he'll be giving us some tips on how to cut the cost of Christmas Dinner.
Presenter: Felicity Hannah Producer: Sarah Rogers Reporters: Dan Whitworth and Kath Paddison Editor: Jess Quayle
(First broadcast 3pm Wednesday 13th December, 2023)