Christmas is fast approaching, and while for many it’s a joyful period of seeing friends and family and sharing gifts, it can also cause unwanted financial stress.

From buying presents to hosting parties, the festive season can leave us feeling stretched and see other savings goals set aside.

On average, households spend around £2,460 a month, according to the Bank of England , but at Christmas this increases by £713.

Given that the UK has very recently been through a prolonged period of rising prices and a cost-of-living crisis, this extra spending can cause havoc with carefully planned out budgets and money management.

Smart money app, Plum , recognises this and it has been designed to help savers to keep a closer eye on their money, making it work as hard as possible to give the

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