An idea would be to commence putting aside a bit of funds each month from about August time so when it comes to Christmas you have a bit of cash to use. For instance putting aside ?100 every month will give you ?600 when Christmas comes knocking, this prevents the pressure of getting into arrears or being left with no money.

Reasonably priced presents are wine, champagne or chocolate gift sets as these make a great present if you have no idea on what to get someone, a bottle of wine can be purchased for as little as ?3 if you shop around, then adding a gift bag and a few artistic inventions can give it a professional look.

It shouldn't be a time of getting into debt and at the same time it shouldn't just be about saving money. Giving presents is a kind thing to do but you should set yourself a budget because at the end of the day your family and friends wont expect you to buy something that you simply cannot afford, and if you are struggling, debt consolidation maybe of help to you. By this method you simply pay off all your existing debts by the use of one loan and the advantages of this are the interest rates being lower if you are only paying back one loan as opposed to a number of loans and credit cards.