With Christmas now less than a week away, most of us are probably now looking at our empty bank accounts with a sad expression on our faces. December is a tight month for most, with buying gifts for family and friends it can soon add up. I actually got contacted over a month ago about this infographic, but with all the shopping to do and general life getting in the way I simply had no time to spare! However, better late than never I suppose and I figured that it would make some interesting bed time reading.

It turns out that we are a nation of big spenders - us Brits, on average planned to spend £488 on Christmas this year, down from £526 in 2012. This year, we've noticed more than ever how much the recession has hit us, and more of us are looking to spend a bit less and be a bit more careful with our money. This isn't just at Christmas either, but all year around. To me, £488 is a crazy amount of money (About half of my monthly wage), but if you've got a lot of people to buy for, and children especially I can completely understand how such a huge total is reached. £152 of that is spent on food, drink and entertainment and the rest goes on presents. The results suggest that women spend slightly more on the gifts, where men are the opposite and spend a bit extra on the food and drink. That's definitely true in my house as my mum has bought all the presents this year, whilst my dad has gone out and bought all of the booze!

Only 15% of people stick to budget - now that I am guilty of, as I have now gone over what I originally planned to spend on Martin! Admittedly, it has been a last minute job with him as I was really struggling to think of what to buy him - and last night a brilliant idea popped into my head! One of his main presents is now unlikely to turn up before Christmas but hey, we're both pretty easy going about that (Good job really). 27% of us don't bother to set a budget, and will spend however much it costs. This is all well and good if you have money to spare, but for those of us that don't it means that we're tempted by sales, reductions and deals that we don't necessarily need to take advantage of.

Compared to last year, there are 5% fewer people shopping on the high street - 66% now do their shopping online. Me and my mum have done all of our Christmas shopping online, bar one or two items. The sheer thought of tackling the high street in the weekends leading up to Christmas is enough to break me out in a cold sweat! I can't stand crowds at the best of times, and finding the right gift for someone is stressful enough without people pushing and shoving past you. I honestly think that online shopping is the way forward for Christmas gifts; there's so much inspiration to find online, and often you can find articles with direct links to specific products. Snuggled up in bed in a nice, warm room and browsing for gifts online is much more preferable than having to deal with the typical British weather!

It's easy to get caught up in a spending frenzy at Christmas, especially in the last week that we are currently in. Deals are starting to appear left, right and centre and Boxing Day sales are now seemingly beginning for Christmas... crazy! Some top tips for keeping on top of your finances are:

- Set a budget and stick to it... easier said than done but give it a good try!
- Regularly check account balances to keep on top of your spending
- Shop around for the best deal before you purchase, including checking for discount codes
- Don't be tempted by deals unless you were going to buy it anyway
- If you must borrow money, be sure that you can afford to pay it back in the coming months

These tips can be applied to any time of year, but I know Christmas is a difficult time for most and keeping these in mind could help you cut the costs in the future. I know that next year I will try and get my shopping done as early as I can to avoid stressing myself out!