Brits' Xmas budget blow-out

Tis' the season to overspend, with more than half of Britons expecting to splash too much cash this Christmas.

A survey found around 59 per cent thought they would spend too much on the festive season this year.

The average person surveyed by Lloyds TSB reckoned they would get through £174 more than they planned, with consumers forecast to collectively blow their budget by £4.7 billion.

Close to half admitted they would not actually set a budget, while 28 per cent thought they would underestimate the cost of Christmas.

One in five said they were likely to forget to include the cost of extra items such as food, decorations and parties.

Just over one in ten people said they started to worry about their Christmas spending a few days before December 25, while 10 per cent admitted it didn't cross their minds until they received their bank statement in the new year.

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