People in Britain are not doing enough to ensure they remain in the black over Christmas, it has been claimed.
Research from Britannia Building Society has shown that 47 per cent of Britons are not saving for the traditionally expensive season.
This comes despite the fact that the average person believes they will spend £620 over the period.
Christmas costs are even more expensive for those with families, with the company claiming they spend more than £200 more than single people.
Britannia group's chief executive Neville Chamberlain commented: "The majority of people are not planning for their Christmas expenditure, even though they have a good idea of how much it is likely to cost."
But there is still time for those who have not thought about Christmas yet this year.
Some 146 shopping and saving days remain before the big day.
Find out more about banking
© Adfero Ltd