Although 86 per cent of Brits claim they do their research before buying Christmas gifts, 38 per cent exceed their festive budget, it has been revealed.
Research by online payment solution PayPal found that half of UK shoppers are not doing enough research before hitting the shops. According to the firm, taking steps to compare products and prices will reduce the cost of Christmas.
Cristina Hoole, shopping expert at PayPal, said: "Many of the best deals can be found online, so those expensive treats you might be planning on buying for someone special could end up costing less than buying them on the high street."
Other recommendations from PayPal included setting a strict budget, making a list and looking out for discounts and offers.
A report by Apacs estimated that Brits will spend £53 billion on Christmas this year, with £11.7 billion on credit cards, £22.4 billion on debit cards and £18.9 billion on cash and cheque.
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