Half of West Midlands adults face Christmas spending pressure (Image: Canva)
Half of adults in West Midlands feel pressured to spend well above their means this Christmas.
FCA's latest research indicates a concerning trend with 50% of adults feeling the Christmas spending pressure and 37% apprehensive about affording it.
These rising financial stress levels are consequently leading to more borrowing, spurring fears about the potential of loan fee fraud.
As Matt Dronfield, managing director of Debt Free Advice said: "As Christmas approaches, families across the country face mounting pressure to keep up with societal expectations, often leading to increased debt and financial strain."
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