Research from Norwich Union has found that the credit crunch and increased debt problems for the UK has forced many families to re-evaluate the meaning of Christmas.
80% of people polled said that this Christmas would be less about presents and material luxuries and more about spending time with family and friends.
Louise Colley from Norwich Union commented, "It's good to see that we're refusing to let the credit crunch entirely steal our Christmases and planning more traditional, less expensive celebrations this year."