It's never too early to start saving money for next Christmas, according to 4.6 million Britons.
Britannia Building Society found that ten per cent of British adults start saving money towards their Christmas fund for up to 12 months before the start of the festive season.
Those who start saving money at an early stage are not only prepared for the average £718.90 that is spent by individuals over Christmas, but will also benefit from savings interest, the society says.
However, it points out that for the 17.1 million Britons who opted for credit cards and personal loans to fund their festive spending, many will take until next Christmas to repay their debt.
"We do not really have a culture of saving in the UK these days but those who do, really reap the benefits of being organised with their money," comments Britannia's chief executive, Neville Richardson.
He says saving money in advance of making big purchases like Christmas presents, holidays and home improvements can add "hundreds of pounds in interest" to savers' own contributions.
The survey found that men were the biggest spenders this Christmas, charging an average £743.90 to yuletide outgoings compared to the £695.80 spent by women.
Already saving money for next Christmas?
Financial Services > Savings > Savings and Investments News
Already saving money for next Christmas?
Thu, 05 Jan 2006
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