Aussies will have to be more frugal this Christmas
It may feel like a long time away, but we only have just over three months to start saving towards Christmas.
The festive season is traditionally a time when people push the boat out and spend huge amounts on their loved ones, but this year might be a little different.
Many Aussies are feeling the pinch at the moment and financial experts have warned people to resist the urge to raid their savings accounts this year.
A new study conducted by Empowered Communications has found that one in three citizens will face tougher financial times this festive season.
Indeed, 30 per cent of the 3,800 people surveyed suggested that their personal debt has been causing them problems, the Courier Mail reports.
One in four respondents will have to make do with basic rations when Christmas comes around again in 2012 and many Aussies have blamed spiralling utility bills for their lack of spending power.
Have a question about savings accounts? Ask the money gurus at Mozo Answers.