In order to meet their outgoings during the school summer holidays, many UK parents are thinking about getting into
credit card debt, according to the findings of new research.
YouGov survey results published by
Turn2Us, which is a division of Elizabeth Finn Care, have found that debt may be an issue for 38 per cent of respondents due to the forthcoming school holidays.
Some of the study's other findings have been outlined by the Elizabeth Finn Care chief executive Matthew Sykes.
He commented: "Some 16 per cent of parents say they will use their
credit card to cover the cost of the summer holidays [and] 14 per cent will rely on their overdraft."
Credit Action recently revealed that people in the UK are already borrowing an average sum of £30,000, including payments on their mortgages.
The organisation recorded a combined personal debt level of £1,460 billion in May of this year.
Posted by Gemma Walker.
