Fool.co.uk: Many people struggling to save for Christmas

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Fool.co.uk: Many people struggling to save for Christmas

Many Britons are living "hand to mouth" and finding it difficult to save money for the festive period, finance website Fool.co.uk has said.

David Kuo, head of personal finance at Fool.co.uk said that people have been so pressured financially that they are struggling to set any money aside.

He cited rising energy bills, car insurance and "off course inflationary" food prices as reasons for the current predicament in which many people find themselves.

Mr Kuo advised those in difficulty to budget where possible and work out how much they expect Christmas to cost.

"Ultimately you don't want to go into the New Year with a huge amount of debt," he said.

According to research by Birmingham Midshires, 78 per cent of Britons are taking measures to try to make this year's Christmas more affordable.

Budgets for Christmas 2008 have fallen by £102, while 11 per cent say they will pay for it on their credit cards.

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