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Online tool launched to help Christmas gift budgets
Published on 06/11/2012

The Money Advice Service (MAS) has set up a new online tool designed to help people budget for the festive season.

With 41 per cent of Scots claiming they are concerned about funding Christmas this year, the budgeting tool may prove particularly popular.

A study by the MAS found one in ten people who took on debts ahead of the 2011 festive season are still paying them off.

Karen Broughton, a director at the MAS, commented: "Typically, with just two monthly pay days before Christmas, there are simple things you can do to make your money go further and take the pressure off your budget."

The body's money planning tool may be a good way for those planning to purchase Christmas hampers for their loved ones this year to budget their finances.

According to a survey of more than 2,000 people across the UK, the typical total Christmas spend for 2012 is expected to come to just under £592, which is a £46 rise on 2011.

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