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January proves to be month of debt for Brits
January proved to be a month full of realisation and depression for Brits who finally came to terms with what they had spent last year on their credit card purchasing.
The latest figures from Skipton Insurance has shown that the average Brit spent in the region of £17,000 last year on their plastic companions, as they made 267 transactions each. This comes in the same week as it was reported by Aviva that the average family debt increased by 48 per cent over the course of 2011.
The biggest spending points for consumers in 2011 were the petrol pumps and supermarkets, where people spent a collective £5,000 on credit cards.
Tracy Fletcher, head of corporate communications at Skipton, said: "People must not forget that any items bought on the card have to be paid for eventually. So, while it might seem like a quick fix in the short term, it can prove to be a nightmare later on."