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Christmas brings out the savings habit in adults

A third of people save money towards the cost of Christmas, with 8 per cent putting aside more than £500, says online bank Goldfish.

It suggests the figures contradict the assumption, fuelled by the reported £27bn UK savings gap, that Britons cannot save.

In a poll of 2,000 UK adults, people aged 25 to 34 were most likely to have saved money towards Christmas, with 39 per cent putting away an average of £237 each.

Manual workers saved an average of £186 across all age groups compared with £165 saved by professionals.

Marketing director Charlie Herbert says: “Contrary to recent industry concern over the nation&#39s apparent savings gap, many people are already in the habit of saving and will use savings to avoid unwanted financial hangovers in the new year.

“The traditional notion of a Christmas club seems set for a revival as our findings reveal that, while Christmas spending may be up this year, it does not necessarily mean people are sleepwalking into debt.”

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