Press release: New CFEB research shows UK intends to have a savvy Christmas

**1 December 2010 **

New research shows UK shoppers will collectively cut back their spending by £1.3 billion this Christmas. People intend to spend 7% less than last year and 64%)of the population plan to spend carefully as they don’t want to get into debt.

But, some areas of the nation are more determined to tighten their belt than others, and up to 26 million people risk heading into 2011 with debt from this Christmas.

The latest CFEB survey indicates that many people have adapted to austerity. As the economic climate has become tighter over the past few years, the nation is shifting to savvier seasonal habits to make the most of its money – such as a shift to thrift, crafty cut-backs, and prudent planning.