The research has also shown that the amount spent on presents is set to fall this year with a third of shoppers saying they are planning to spend considerably less than last year, and 80 percent of people looking to spend less than £250. In 2008, the average spend was £320 per person.

One in ten people have said they are not intending to send any Christmas cards this year, with more than half of those stating this is in an attempt to save money.

Naturally, there are also some super-organised people who have finished their Christmas shopping by now already having purchased most of this year’s presents, wrapping paper and embellishments during the January sales.

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The news is full of articles on the recession – the lack of jobs, the rising levels of unemployment, the cost of pensions and the lack of savings. So now is a fantastic time to start saving. Here at MoneyTowers, we have put together five quick tips to hep you save £50 a month.

1. Entertainment
Instead of going out, bring the entertainment home. That could mean instead of eating out in a restaurant, buy in the ingredients and cook at home; instead of clubbing, invite your friends round for a dinner party; instead of going to the cinema, hire a film instead. Have a think about cheaper activites on the weekend too – hiking, camping and beachcombing are all low-costs or free and can be just as enjoyable as more expensive past times.

2. Libraries
Make use of your local library – they are free after all! And libraries don’t just have books – they often have DVDs and CDs that you can borrow. Many libaries also offer free internet access

3. Eating Out
Are you a coffee or tea fiend who likes to get coffee from coffee shops? Take a thermos flask or switch to tap water as cutting back on the coffee is not only good for you, but can be good for your wallet too.

4. Grocery Shopping
Always write a shopping list before you go shopping and stick to it religiously. This way you will stop yourself impulse shopping and buying things you don’t need. Shopping online can often also help stop those impulse buys. If you meal plan ahead of time, it is also likely that you will waste less food therefore save yourself money. Swap expensive products for supermarket own brand goods – try swapping just one or two items per shop. You’ll be amazed at how some staple products are almost identical yet have wildly varying costs.

5. Treat Yourself
Don’t forget to treat yourself once a week otherwise you’ll never stick to your budget. Life is there to be enjoyed, however you will enjoy your treats more if they come in moderation. Treats don’t have to be expensive either – try a luxurious bath filled with rose petals and bubble bath with a glass of wine and lit scented candles, or take some time out for a romantic walk with your partner.

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Research carried out by the British Brands Group reports that one in three shoppers has admitted they have accidentally bought the wrong product because it’s packaging was similar to the product they were after.

Some packaging is often made similar to a well-respected and liked brand with the same product in the hope that consumers will be tricked into picking up the wrong product without noticing. The BBG has called this sort of brand identity hijacking misleading and has called on the Office of Fair Trading and council trading standards to investigate the instances that they found.

The research shows that shoppers need to keep an eye out when shopping to ensure they are picking up the brand of product that they intend to. Many alternative brands will copy the original brand’s colours, styles and pictures meaning at a glance, shoppers can easily be confused between the two products.

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Our top ten tips for reducing your shopping bill.
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