Britons are to spend at least the same amount on Christmas gifts this year despite the credit crunch, research has suggested.
A survey by Direct Line found that 74 per cent of those surveyed doesn’t expect to curb their spending due to the economic downturn, with the average adult expecting to spend £407 on presents.
However the data reveals that more are planning to spread the cost of purchasing by starting their Christmas shopping earlier, with 20 per cent staggering the cost compared to the ten per cent expecting to do most of their shopping on Christmas Eve.
Head of Direct Line Home Insurance Andrew Lowe explained that many will be “shopping much smarter to get the most for their money”.
Those in financial difficulty may wish to adopt such a tactic over the festive period, especially if they are aiming to become debt free.
Finance webite Fool.co.uk recently suggested that men are bigger spenders than women, as they are more likely to pay over the odds for a product than their female counterparts.
By Tom Musk