However, a 25 per cent of people have already saved enough to pay nearly all of their Christmas spending.
Ten per cent of households say they will resurrect traditions such decorating the home with holly, ivy and mistletoe and those in the West Country report that they would be putting up hand-made decorations such as paper chains.
Only 11 per cent of people say they will use their credit cards to pay for this year's festivities, compared with 41 per cent in 2006.
Meanwhile the Guardian reports that the owner of Marks & Spencer, Sir Stuart Rose, has predicted that people will shop sparingly this Christmas rather than buying things they do not need.
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