Some 53 per cent of Britons are worried about how they are going to fund the cost of Christmas.
This is according to research carried out by MoneySupermarket.com, which shows that concerns are not as high as 12 months ago, when 60 per cent of respondents were not sure if they could afford the festive period.
One-quarter of those questioned are expecting to make cutbacks in an effort to be sure they do not end up in debt, while 17.4 per cent are confident they will be able to afford to buy presents.
Kevin Mountford, head of banking at the price comparison site, said: "UK households have continued to feel the pinch in 2012 and many may fear the worst with the cost of Christmas still to come."
With just ten weeks to go until December 25th, Mr Mountford is advising people to take a jam jar approach to saving, which includes setting aside a small amount every week to fund purchases.
This is a much better idea than leaving all of the Christmas shopping until the last minute.