Payment protection refunds and credit card claims could help more families enjoy Christmas this year without worrying about their ongoing financial difficulties.According to new research from Legal & General, 31 per cent of the UK population are planning on spending less money on the festivities than they did last year.The group found that 1.6 million families claim they cannot afford to buy presents, while a further 3.3 million believe they will need to rely on a credit card to cover the cost of Christmas shopping.Mark Gregory, the company's executive director of savings, stated that the results are not a surprise as many households across the country are struggling to control their budgets.Individuals in London and those in the West Midlands could find PPI claims particularly timely as these regions were the most financially ill-prepared for Christmas.Last month, a study by Moneysupermarket.com found that people who use credit cards to pay for gifts worth £500 and then only paid the card's minimum monthly repayment could still be paying for them in more than 11 years time.Samantha ClarkeSamantha is a former banking assistant and has over ten years experience in retail banking.
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