Christmas can be quite a stressful time. There’s all the gift shopping that needs to be done (most often in ridiculously busy shopping streets or malls), lots of groceries that have to be picked up, cooking that needs to be carefully planned, family that has to be picked up from the station… And that’s not even counting the anxiety that comes with the realisation of how expensive the holiday season really is.

It is claimed we each spend on average £600 at Christmas on gifts, food, drink and everything else associated with that time of year. With this in mind, it is not surprising people wish to plan and save for this.

We don’t know about you, but starting the New Year with a heavy burden of debts hardly seems like a happy occasion. And you know what, there’s no reason why you should put yourself through all that financial hardship. A lot can be done with some careful planning  So if you want to spend at Christmas but you don't want the debt misery that so many of us have in January then saving through the year is the best way to combat it. There are so many ways to do it now too.   Start now and you could have everything sorted by November.  Use savings schemes, cash in a jar or just pick up actual goods during the year - whatever works for you. The one thing  that is not really recommended is  joining a Christmas hamper club where your money is not safeguarded (remember the Farepack fiasco in 2006?).

Even collecting coins throughout the year can help.  It's simple and it's old-fashioned, but it works: pick a coin that you would like to collect and then at the end of every day, or at the end of the week, put any that you have in your purse/pocket/wallet into a jar or piggy bank. You could simply put all your copper change in or pick one coin - say 20p pieces or £2 coins. If you do it every week it's amazing how much you can save over a year.  They seem to build up quicker than you can say Jack Flash!

The downsides of this method are that a) you don't make any interest on your savings, b) someone could take the money and c) you could dip into it in times of dire need (like shoes or the pub). So it may be best to combine this method with one of the suggestions above. So at the end of every month, say, you collect up the coins you have saved and haul them off to the Post Office, a Credit Union or a building society. That way you will earn some interest and the money will be safe from pilferers (including yourself!).

A number of supermarkets including Morrisons, Asda, Tesco and Iceland have what they call "Christmas clubs" where you buy stamps throughout the year which you can then redeem for food and gifts in December. Again, as with collecting coins, the main drawback is that you don't get interest on the money you save. However, it's specifically for Christmas and it will help you save if you think you're in danger of dipping into your special savings pot. It's also quite a handy way to do it because you can buy a few when you do your other shopping each week. If it works for you, then do it!

It doesn't just have to be money that you save through the year. Throughout the year, we tend to need presents for kids and adults; for birthdays, Christmas and other celebrations.  So be on the look out for good deals or two for ones that will make suitable gifts for people you know and buy them.  Then set aside a space or cupboard to put them in with a name tag on (so you don't double buy for the same person).  This way you save time and money in the next Christmas rush. You can pick up presents in sales and non-perishable foods (mincemeat, pickles etc) through the year which can go in your "Christmas cupboard" (or Christmas box, or Christmas shelf), ready for December. Of course, though, this only works if you have space to spare. Not all of us have!

The best way to save in the run-up to Christmas is to put regular amounts in a high interest savings account where your money is safe and where you are making interest on your savings.  Regular savings accounts allow you to invest between £10 and £5,000 per month. Compare and contrast several savings providers and you could find interest rates between 6-8.25%. In some cases 10% interest can be found if you also hold your current account with the same company.

If you can commit some cash on a regular basis, then a savings account can be a good option at any time of year whether you choose to save for Christmas, home improvements, holidays or education.

As with any other financial decision you make, it is always advisable to thoroughly research all relevant products on offer paying close attention to any small print detailing the full terms, especially any investment, payment or withdrawal restrictions.

Otherwise it's probably a good idea to put money into an account that penalizes you for taking it out early, so that you are less tempted to dip into your savings.

The Post Office has recently set up its own "Christmas Club" savings account which anyone can open. It doesn't offer any interest on your savings but it does guarantee that your money is safe. The way it works is that you get a Christmas Club card which you can use to make deposits over the counter at any Post Office. The minimum deposit is £5 and the maximum individual payment is £500, up to a total of £1,000 savings per card per year. So if you wanted to save more than £1,000 for Christmas this is not the best for you, although you could combine it with another savings scheme if you wanted to.

One good aspect of this scheme is that you can't touch your money until November when the card turns into a pre-paid debit card which you can use in certain stores or turn into gift vouchers. The Post Office has done deals with more than 200 retailers so far, including Argos, Boots, Debenhams, Halfords, House of Fraser, Peacocks, Sainsbury’s, Thorntons, Woolworths and WHSmith.

Credit Unions have had Christmas Savings Accounts for years. Their rates are pretty competitive and you can put as little as £1 in each time you make a deposit. They pay an annual dividend on your savings but you can take money out during the year if you need to (try not to!). As with the Post Office and with banks and building societies, your money is protected under the Financial Compensation Scheme (i.e. the first £35,000 of your savings is safe whatever happens to the Credit Union). Credit Unions are worth joining anyway, even if you don't open a Christmas account, so have a look at the national website to find one near you.

Helen says: Once Christmas is over, it’s worth looking at what you did well and what you didn’t. Learn from your mistakes and start planning how you will do things differently next year. This might also be a good time to start saving for next Christmas!