A new study from Britannia has shown that debt management plans can be thrown into disarray by the Christmas period and consumers would be wise to start saving from as early as August.
Some of the statistics from the survey highlighted significant grounding for financial problems for many people with as much as 37% saying they will have to borrow money from somewhere to afford festive treats.
A spokesperson for the Britannia commented: "This survey shows that the majority of people are not planning for their Christmas expenditure, even though they have a good idea of how much it is likely to cost."