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'Saving levels drop as Christmas approaches'
30/10/2006
 People in the UK have started spending for Christmas early, according to new research from Birmingham Midshires.
The financial provider's Saving Britain campaign has uncovered a fall in savings levels in the country, with Christmas being cited as a reason for reduced amounts of money being put aside. The imminent Christmas season, which traditionally involves spending money on presents and a number of social nights out, has led to the lowest quarter savings levels over the last 12 months, the research shows. Jason Robinson, director of savings operations for Birmingham Midshires, said: "Looking at current levels of savings, it would appear that many Brits may have started spending for Christmas early…so savings have fallen by the wayside slightly." He added that "Christmas is a great time to spend with family and friends", but individuals should be aware of what they are spending to make sure that the start of 2007 can "still be fruitful". IFAP, the company that promotes the use of independent financial advisers, suggested this month that 21 per cent of the nation plan to organise their finances in the new year.  Click here for more on London's best events and Christmas parties.
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