Did you know that in Briton 34 per cent of the population would perfer cash for Christmas as opposed to a gift. Even more interesting is that alomost 35 per cent were actually planing to give cash as a gift. Cash would come in very handle for this current Christmas season.

People are even considering giving a children's savings account as a present for their child.

Ken Stannard, head of Halifax savings, said: "Our research shows that a large number of people like to receive money at Christmas time. It is great to see that many people will be putting at least some of that money aside. By saving regularly and then adding a lump sum at Christmas and on birthdays, savers can build a pot of money that can be put aside for a rainy day."