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Christmas spending: Households under pressure

2 December 2016

The online payday loan firm 247Moneybox.com is releasing a series of Christmas tips, tricks and hacks to save customers cash over the festive period.

According to Bruce Martin, a 247Moneybox Customer Champion, "With the rise of Black Friday and pressure to start shopping from November, the squeeze on household budgets this Christmas is going to be severe. We are concerned that with all the flashy ads and eye catching deals purporting to save customers loads of cash, it's inadvertently pushing up the average household spend over the period."

The firm has gathered together as many tips, tricks, work-arounds, coupons, discounts and hacks that they possibly can and will be sharing them with their customers via their social media pages.

Martin continues "We all know that receiving a really thoughtful gift can outstrip a flashy one and thoughtfulness doesn't necessarily mean spending a load of cash. For instance, what about baking some gingerbread and mini Christmas cupcakes and presenting them in a DIY cake tin. Totally guaranteed to blow that z-list celeb autobiography out of the water."

Stress at Christmas as budgets come under pressure

The firm prides itself on promoting excellent customer outcomes and is committed to a customer centric business model. Responsible lending has always been a key tenet of the way the lender operates its business with the founding management team working in regulated business since the early 2000s. As result regulation is not just part of the model but is central to the culture - and the culture is the context within which the operational decisions are made. The aim is that all employees never have to stop and ask themselves the question 'what would the regulator think?' but can instead make a judgement on what they themselves feel to be right. Once an organisation has this level of synchronicity with the rules, regulations and best business practices etc. that's where a flourishing sustainable business model for all stakeholders can take off.