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The cost of Christmas could hit the pockets of consumers this January but people searching for credit may find that the banks have restricted their lending.

Such are the claims of Borro.com, which states that a modern day pawnbroker is one avenue which individuals might consider to help with their household cash flow.

Indeed, the online pawnbroker believes that it could become a mainstream service for people looking to obtain a short-term loan, secured against the value of goods they own and intend to keep.

"This year with the credit crisis and banks continuing to trim consumers' credit card limits, there will be fewer options than at any time in the last 30 years," claims Paul Aitken, founder and chief executive officer of Borro.com.

January is the month when access to personal credit is at its most restricted, he adds.

But cash-strapped consumers may also like to consider secured loans against their home, which could not only be more easily available, but may also be in a person's bank account within the same day.

Meanwhile, NS&I recently stated that falling costs in areas such as petrol and food could mean that more disposable income can be placed into a savings account.