Have you started saving for Xmas 2010?

The Office of Fair Trading (OFT) and the charity Citizens Advice have launched a campaign to urge people who have struggled financially this Christmas to start thinking now about saving for Christmas 2010.

As part of the OFT’s Save Xmas campaign, selected Citizens Advice Bureaux and other organisations will be running 240 financial workshop sessions in the new year to raise awareness of savings options and encourage people to start saving.

The workshops will be targeted at priority groups including housing association tenants, lone parents, and those on benefits or low incomes.

In the 18 month period to the end of September 2009, Citizens Advice dealt with more than 3 million client debt problems and is encouraging people to think ahead.

John Rhodes, Head of Financial Capability at Citizens Advice said:

“Christmas will have given many people a debt hangover that they might have been able to avoid. We’re encouraging people to plan for next year, find out about the options available and set up a savings plan. This should help reduce the need for expensive credit, and limit the financial and emotional challenges associated with problem debt.”

David Murphy, Head of Campaigns at the Office of Fair Trading, said:

“Christmas does tend to focus the mind on money issues, and we hope our campaign delivered in partnership with Citizens Advice will help people to think about the importance of making informed choices about saving for next year.”

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