"No-presents pact" could relieve Christmas debt

20/09/2006

Deciding to cut down on presents between close friends and adult family members is one way of reducing Christmas debt.

According to the Mirror, exchanging token gifts with a fixed spending limit could be a better way of saving money during the Christmas party season.

Customers are also urged by the newspaper not to panic-buy by leaving the shopping list to the last minute.

Additionally, hunting for bargains is advised, with online comparison websites potentially able to save gift-buyers "a small fortune".

Furthermore, parents should not "bow to pressure" by buying expensive gifts that they cannot afford, the newspaper suggests.

London stores Selfridges and Harrods have already launched their Christmas sections, with the former opening its festive grotto over three months before Christmas Day.

Similarly, Marks & Spencer announced last week that its festive clothing range will concentrate on "glamour", which could be of interest to those planning their Christmas party outfits.