Christmas not inspiring Brits to save

The upcoming festive season is not inspiring Brits to save, according to new research by National Savings and Investments NS&I.

Despite Christmas being less than two months away, many Brits feel they are unable to put cash aside for festive treats.

Over a quarter of Britons 28 per cent said they were less likely to save during the autumn months, while seven per cent said they were less likely to save in the run-up to Christmas.

Tim Mack, savings spokesman, NS&I, said: "It's daunting to think that there are just two months to go until Christmas. However, it is best to try not to pay for everything out of December's pay packet and instead to plan early, agree the priorities for a good festive season and spread the financial outgoings over a longer period."

He added that if people put aside a small amount of cash each week, then the cost of Christmas can seem less traumatic.
 

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2010-11-05 13:28:02 © Moneyextra.com