More than half of adults save money all year specifically to cover Christmas costs, with many starting to put cash aside – as early as January, a study has found. The survey, of 2,000 adults who celebrate the festive season, found 71 percent of these savers reckon it would be tough to afford the festivities if they didn’t save early.

In fact, 37 percent are buying presents between late summer and autumn, with 62 percent trying to beat the December rush, as they are time-poor the closer it gets to the big day.

And 22 percent start filling their Christmas social calendars by October, with the average reveller locking in four gatherings.

But while 36 percent have used credit and finance options to stagger their expenditure, a third of these have cleared their debt at the earliest possible opportunity, come January – with a further 25 percent settling theirs before the summer starts.

The research was commissioned by John Lewis Partnership Credit Card, which is currently offering customers £40 in vouchers to spend in-store and at Waitrose when they open an account.

Jason Morrey, from the retailer's finance arm, said: “Christmas has transformed into a year-long financial event, encompassing months of anticipation, planning, and preparation.

“The careful attention to detail has extended the joy of the season throughout the year, allowing us to curate an exceptional Christmas celebration.

“But at the heart of all of this is the money we can afford to spend on the celebrations – and it’s clear that many are focussed on setting themselves up as early as possible to put Christmas on.”

It emerged that, on average, those who use credit at Christmas put nearly £300 on these cards – with 68 percent of these saying it’s important to spread the costs of this time of year.

Nine in 10 (89 percent) of these used credit to buy presents, while 58 percent have paid for Christmas food on credit – and 40 percent have used it to cover the cost of their travel expenses.

Despite spreading the cost, 73 percent are also on the lookout for bargains, with 24 percent looking to maximise Black Friday opportunities.

In fact, 60 percent have purchased Christmas-related products immediately after the festive season, when items have been discounted. 

But come December, 33 percent said this is when the pressure of planning for Christmas really ramps up – as 57 percent say the most stressful part is finding the perfect gifts for family and friends, within budget, according to the OnePoll.com data.

To help fund the festivities, 47 percent have saved up vouchers or coupons to help pay for Christmas, with 37 percent gifting vouchers that they have accumulated throughout the year.

But overall, three in 10 agree Christmas actually feels like a year-long event, with all the planning and preparation which goes into it.

Jason Morrey, from the John Lewis Partnership Card, which is also offering zero percent interest for the first six months, so customers can spread the cost of Christmas, added: “Now, more than ever, it is crucial for people to plan their Christmas expenses in advance.

“By mapping out their budgets early, individuals and families can make the most of spreading the costs over time, avoiding last-minute financial strain.

“This approach not only brings financial peace of mind, but also ensures that the holiday season is filled with the warmth of celebration and togetherness, without the worry of financial burdens.”