Saving can 'help avoid Christmas financial hangover'

Many Brits will be starting 2011 with a financial hangover after overspending this Christmas and the Office of Fair Trading OFT has urged people to begin thinking about saving for Christmas 2011.

The OFT believes that accessing the best savings rates will allow people to avoid the financial strain the Christmas period brings.

David Murphy, head of campaigns at the OFT, said: "It may seem a bit early to be thinking about next Christmas, when many of us are still eating the leftovers from this one. But we want people to be in a position to enjoy Christmas without getting into financial difficulties and that often requires a bit of forward planning."

The organisation has started a Save Xmas campaign which offers a range of tips for savers looking to avoid financial difficulties next year.

Advice includes planning early and budgeting accordingly, shopping around for the best savings interest rates and most importantly begin putting money aside.

CashQuestions.com recently advised parents to begin saving for their children's future as the government's child trust fund program will be abolished on New Year's Day.
 

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2010-12-29 13:09:46 © Moneyextra.com