Recent research by Alliance and Leicester indicates that more and more consumers are using their credit card to finance repairing appliances and other gadgets used in the home. Basic repairs to the home financed on a credit card indicate that household budgets are becoming truly strained.
Household finances continue to be strained according to the credit crunch, with the higher cost of living adding further pressure. The study showed that as many as seven million people rely on their credit card to fund basic repairs and essential spending every month.
An official from Alliance and Leicester was reported as commenting: "We would encourage people to start saving sooner rather than later to avoid a basic household emergency becoming a financial headache."
Credit card to pay for basics
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Credit card to pay for basics
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