Start saving for Christmas 2010

Consumers should be saving for the following year's festivities, rather than just the one that is coming up.

The industry analyst stated that people should get into a habit of saving a little money every month so that they can be ready for periods of high expenditure, such as Christmas.

It is suggested that people could be tempted to try a specialist savings account to help them put some money aside each month.

There are specific accounts out there called regular savings accounts. You put in a set amount each month – usually done by standing order – and then after 12 months you will get the interest on your savings.

Last month a survey showed that 69 per cent of consumers will pay for Christmas with money that they have available now, rather than spreading the cost over the rest of the year.