People starting Christmas shopping early to save money

Christmas is still several months away but many people in the UK are already making preparations in a bid to save money, according to new research from VoucherCodes.co.uk.

Indeed, during a time when individuals are meant to be sunning themselves, they are in fact buying yuletide essentials such as presents and decorations.

The research found the importance of keeping costs down forces many to plan their holiday shopping well in advance, with a third of all adults (36 per cent) making a start by the end of September.

It also discovered the majority of people found the first half of this year more financially demanding than the first six months of 2012 (42 per cent) and they do not see things improving for the rest of 2013, with no increase in disposable income expected by 62 per cent.  

As a result of the deteriorating financial climate, a fifth of all individuals are already worried about the cost of Christmas.

Indeed, strained purse strings have forced a third of consumers (36 per cent) to spend less on Christmas shopping this year compared to 2012, while a further half (49 per cent) claiming they cannot afford to fork out any more.

In order to stick to their budgets, one in five people (21 per cent) are now buying items for the December festivities across the rest of the year to help spread the overall cost, with 15 per cent of shoppers having already started before September.

Duncan Jennings, co-founder of VoucherCodes.co.uk, said: "After years of cutting back to make ends meet, consumers are clearly learning how to adapt their shopping habits to ensure they are not living beyond their means.

"Although Christmas is over three months away, it is interesting to see how many Britons have already cracked on with their purchases to avoid a huge hit to their wallets in winter."

With the cost of essentials rising while income remains stagnant, it is perhaps unsurprising so many people are picking up their Christmas shopping early.

By Joe White