Most people say that they still get Christmas gift money in cash, while about 7 per cent say it is paid directly to their accounts. More than 25 per cent of the people will get into their savings this month, while about 35 per cent will get into their overdrafts.
Most Britons say that this year they will be using any Christmas cash influx practically, with many stating it will be put into savings, used for everyday items like groceries, or used to pay bills.
Many have been suffering hard times and, rather than splurging, are pledging to be sensible with Christmas cash. It is reported that around 50 per cent of the British population says they will be frugal with their Christmas cash rather than frivolous.
About 20 per cent of people asked expect to get Christmas cheques and around 10 per cent say that they will probably get a gift card. About 10 per cent state that they still intend to use Christmas money on luxury purchases.
Of the people polled, results showed that about 25 per cent will tuck away pounds in investments or savings, nearly 40 per cent will use their Christmas money for common items, and around 10 per cent will pay off debt.