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People who shop around for their insurance to try and save money may find that Christmas is not the big expense some fear, it has been claimed.

Other money-saving techniques such as cycling to work or buying supermarket own-brand products instead of big names may also help to reduce the amount of money spent in December, Moneyfacts states.

Michelle Slade, press and PR officer for the company, said: "Lots of the shops are having sales on and are trying to encourage customers before Christmas so it is just a case of making sure that you are quite savvy with your money."

She encouraged people to shop around and consider taking their own lunch or coffee to work rather than buying food on their lunch break.

According to CreditExpert.co.uk, 12 per cent of people expect to try and pay for Christmas this year by doing overtime or getting a pay rise.

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