By Charlotte Beugge
Six out of ten Britons are already worrying about the cost of Christmas and a third say they are going to have to make severe cutbacks on spending.
According to a poll by Moneysupermarket.com, 60% of those surveyed said they were worried about the cost and more than half of those (55%) were seriously concerned about the expense of the festivities.
Kevin Mountford, head of banking at the price comparison site, said: "For many families Christmas is always a financially tricky time.
"This year will be tougher than most as a result of the increases in the cost of living and widespread pay freezes. It's no surprise therefore to see that more people are worried about funding the festive period this year compared to previous years."
If you can't afford to fund Christmas spending from income the best thing is to use savings - but if you don't have enough and have a good credit rating, then a 0% deal on purchases on credit cards can work.
Both Tesco and Marks & Spencer offer up to 15 months at 0% on purchases and in both cases, you earn rewards. You need to make sure you clear the balance before the 15 months is up otherwise your festivities will end up being very expensive.
Meanwhile, some customers with Co-operative Bank debit cards have had difficulty paying with their cards after a system upgrade over the weekend. Around 5,000 of the 2.1 million debit card holders were affected, according to the BBC.
