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The average amount of debt that people expect to be left with in the new year is £449.

Such is the assertion of Halifax, which asked those using loans, store cards and credit cards to fund their festivities how much they think they will owe once the big day is over.

Indeed, over a third of cash-strapped consumers will use a credit card, five per cent will use a loan and 14 per cent will pay for Christmas on a store card, the research reveals.

As such, Britons considering taking out a secured loan may be interested to discover that the annual percentage rate may be lower than other loans on the market.

Meanwhile, two-fifths of women are concerned about their festive finances, compared to under a quarter of men.

Head of banking of Halifax Mike Regnier warns individuals that while they may use store cards to pay for Christmas, this "could see them paying out more in the long run".

But secured loans could be one option for households looking for a financial boost this holiday season.

In related news, MoneyExpert recently revealed that 12 million adults in Britain have a personal loan.