Alliance & Leicester finds few people saving for Christmas

06 December 2004
Most people in the UK have said they have not saved any money for Christmas, Alliance & Leicester has found.

Alliance & Leicester found that just one in three (35 per cent) of the population have put money aside for Christmas and the average amount saved is £182.13 - £30 less than last year.

Nathan Barber-Kebby, product manager for savings at Alliance & Leicester, commented: "Many families are left counting the costs of Christmas well into the new year, so it's a concern to see that only a third of Britons have saved any money this year.

"Christmas is an expensive time and our findings indicate that people are either intending to buy on credit, or will spend less cash in the shops this winter.

"I would encourage people to start saving early next year, saving even a small amount each month throughout the year can help to relieve the financial hangover people so often experience in January."

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