Saving for Christmas 'crucial'

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Saving for Christmas 'crucial'

Mon 25th Jun 2007

Consumers should always have their financial eye on the ball to ensure that they have sufficient funds to pay for expensive times of the year such as Christmas.

According to James Falla, managing director of debt consultancy group Thomas Charles, his advice to Britons would be to always "saving for a rainy day or for periods in the year when you may have higher expenses".

Mr Falla said he could not be certain whether the best way to save in a prudent fashion for the festive season would be to save specifically in a Christmas account or to put it into a deposit account at the bank.

"Whether or not you choose to save it in a Christmas savings plan or save it and put it in the bank, I think that activity can only be applauded," Mr Falla said.

He added: "People must attempt to do these things because that will prevent them from overspending on their credit cards."

In order to seek out the best advice on the best ways to save, Thomas Charles recommended that consumers use one of the money supermarket websites or to talk to someone who has used them.

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