ALMOST half of us will find Christmas and New Year financially stressful.

The findings, released by Bacs Payment Schemes (Bacs) – the company behind direct debit in the UK – suggest it is women who are more likely to feel the pressure at this time of year (56 per cent), compared to 36 per cent of men.

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According to Bacs, the soaring stress levels may be something to do with the fact the average outlay at Christmas and New Year stands at a considerable £653, with one in four spending more in 2014 than they did last year.

One in 10 of us will spend in excess of £1,000 and two thirds (65 per cent) say they budget to some extent in the run-up to Christmas.

However, with decorations to be put up, presents to wrap and cards to post, one in 10 admit to missing a bill payment over the holiday period.

Mike Hutchinson, of Bacs, said: “With so much to juggle, it’s perhaps no surprise that things can get forgotten but, one way to give peace of mind those important bills won’t be missed, is to pay by Direct Debit – that way you can also spread the costs across the year, and avoid a big bill landing at a financially stressful time.”