It’s ‘Mega Monday’ for Christmas shopping online with many turning to the internet for their Christmas shopping, but online shopping is only part of the story – how much will you be spending on Christmas?

It’s not just shopping for Christmas presents, but there’s the Christmas decorations, festive clothing, beauty products and going out to restaurants with friends and family.

According to Co-Operative Bank Credit Cards research, those in the North West spend more in restaurants, whilst those in London spend most on clothing, beauty products and florists?

Although spending starts now, most people leave their Christmas shopping to the last minute, with spending at its highest level during the last week before Christmas.

But as John Hughes, Director of Retail Products at The Co-operative Bank comments: “Often people have to tighten their belt in January due to over-spending, but with a bit of forward financial planning and a little common sense people can start enjoying the New Year with their finances in check”.

Suggestions from Co-operative Bank include

• make sure you check your current financial position, look at your debit, credit and savings accounts


• make a Christmas shopping list to help ensure you get a well thought present and don’t end up paying out on a more expensive generic gift.


• budget for the months following Christmas and ensure you don’t overstretch yourself

Make sure you can cover any debt you accumulate and make sure any credit cards you have work best for you – whether through 0% balance transfers or 0% on new purchases, there are a number to choose from, including football credit cards and charity credit cards.

Try and pick up one of the many bargains that the retailers are currently offering – see our Special Offers for up to date information on what we’ve found.
©MoneyHighStreet.com Personal Finance