Shopping at the last minute in the Christmas rush is leading UK consumers to spend more than they intended, it has been claimed.

Financial services provider Egg has published data suggesting that the four million Britons planning to do all their shopping in the last week before Christmas will blow the budget by a collective £594 million.

Such panic buying could lead to higher than expected levels of debt - although a debt consolidation loan in the wake of the festive splurge could help consumers to get back on their feet.

Alison Wright, chief marketing officer at Egg, said: "Consumers need to try to find ways to drive down the overall cost of Christmas - one way seems to be by avoiding those last minute shopping sprees, when lack of choice and panic buying are rife."

Meanwhile, it is not only the disorganised Christmas shoppers who could benefit from a debt consolidation loan.

Recent research from Egg also indicated that the costs of keeping up the yummy mummy lifestyle reaches a combined sum of £6 billion each year.


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