Christmas always means extra expense and, in the current economic climate, that's an expense that many people are dreading. As we gear up for the festive season, there is always the concern that money spent on presents might be better employed in your bank account, to cover general bills and any financial requirements that can strike unexpectedly. But the children still need something to unwrap on Christmas morning, so how can you make your money go further, cover all your financial bases and buy the children something special?

A Payday loan is a viable option that can help to fill the financial void. Many people have to juggle their finances to take into account monthly pay cheques, which usually arrive at the end of the working month. This means that the run-up to Christmas is a pretty lean time anyway, with very little free cash available for last minute shopping trips.

This year, the economic downturn is expected to reduce the amount of ‘Christmas Cash' even further. Sky News has reported that the average Briton will be spending just £376 on gifts this year, down from £393 in 2007. However, people still need something to look forward to. By incorporating a payday loan into your financial plans for this time of the year, you may be able to avoid last minute worries about not having enough cash in the bank to be able to go out and treat those you love to a little something special.

Put simply, a Payday loan is an advance against your salary, which is deducted from your following pay cheque. Once the lender has ensured that you meet certain criteria (being a UK citizen, over 18 years of age, having a bank account with a debit card and, most importantly, having a regular source of income), a small loan can be made against your projected income for the following month. You do have to remember that the loan (and any additional interest charges) will have to be paid back once your wages come through, but a Payday loan does mean that within 24 hours the money is in your account and available for you to use.

Christmas is actually a very good time to take out a Payday loan, as many people have the advantage of Christmas bonuses to look forward to. This Christmas bonus can help considerably when it comes to repaying the Payday loan. However, bonuses are often paid only a couple of days before the holidays, meaning that there's a mad dash for bargains at the last moment. By incorporating a Payday loan into the equation, you can do your Christmas shopping in plenty of time, rather than relying on the all-night garage for a last-minute box of chocolates when your pay cheque finally hits your account, only hours before the big day.

If you're worried about how you're going to pay for Christmas, but don't want the added expense of a conventional loan or overdraft, a Payday loan may help to see you through the festive period in traditional style. Yes, you do have to pay the money back. But at least the children will have something to unwrap on Christmas morning.