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20 October 2005
Few of us would expect to slim down over Christmas, but that is exactly what new research suggests we will do to our credit card spending habits as this year's festive season nears.
The latest findings by Morgan Stanley Consumer Banking suggest that, in the three months leading up to the end of the year, ten per cent less will be spent using plastic than during last year's yuletide.
Social gatherings may experience the most significant changes - people expect to spend 32 per cent less than they did on going out last year. Grocery spending will top the charts as ever, but at an average of £234 will still be ten per cent down on last year.
Britons still plan to get away from it all, though - expenditure on travel should be one of a tiny number of increases, at 23 per cent more than in 2004.
Patrick Muir, marketing manager at Morgan Stanley Consumer Banking, said: "This prudence may mean a leaner Christmas but it is just as likely to reflect the growing savviness of British shoppers who now demand more for their money."
Men will flex the plastic more than their female counterparts - spending an average of £1,052 compared with £816 for women.
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