THE chill of the autumn in only just setting in, but many people are already turning their thoughts to Christmas – mainly, how they are going to pay for it.

A new survey by VoucherCodes.co.uk said 33 per cent of 2,000 people questioned said they have already started their Christmas shopping to avoid financial stress.

It said 17 per cent kicked off off their sprees by the end of last month, with a further one in seven planning on making headway this month.

A further 16 per cent added they had been at it even earlier, buying gifts throughout the whole of this year.

One in ten people even admitted planning to give a loved one a gift they bagged as a bargain in last year's sales.

Taking it to that level may seem extreme, but it is actually very sensible.

According to some separate research carried out by Halifax, the average amount people spent on Christmas last year was £482 – if you wanted to save that sum again, and you had not already started putting money away for Christmas, you would need to put away about £160 a month from now until Christmas Eve.

Of course, for many people, this rate of saving is impossible, meaning that they will resort to borrowing the cash instead, storing up financial problems for next year.

Indeed, the VoucherCodes research revealed nearly 19 per cent of people gave the gloomy prediction the debt they will carry with them from this coming Christmas will be their main cause for financial concern next year.

About 20 per cent predict they will be relying on credit to cover the cost of gifts, presents and trips out to celebrate with friends.

Some 17 per cent predict they will be piling money on the plastic this Christmas by using their credit card, and eight per cent are planning to turn to a personal loan or to dip into their overdraft to see themselves through the festive holiday.

Claire Davenport, managing director at VoucherCodes, says the impact of the financial downturn has led many of us to shift our mindsets about the way we shop, with more of us planning ahead in order to avoid the monster financial hangover traditionally associated with January.

So if you have not started your Christmas financial planning already, now could be the perfect opportunity to start getting organised, rather than facing that last-minute dash on December 24.

Ms Davenport suggests making the most of money-saving opportunities by signing up to receive stores' newsletters so you can grab offers as they come up as the Christmas battle for shoppers' business starts hotting up.

She added: "Now is the time to start making lists of everything you will need, from decorations to dinner, so you can stock up as deals and offers go live."