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Despite the credit crunch, consumers are still splashing out to make sure that this Christmas is one to remember for all the right reasons.

Such is the assertion of HSBC, which found that the average person will spend £479 this holiday season, an amount that could swiftly be dealt with by a loan.

Indeed, research reveals that people aged between 44 and 55 are going to be the biggest spenders, forking out an average of £579.

Commenting on the findings, Debbie Thomas, head of savings at the bank, says: "Everyone knows that Christmas is an expensive time but by tucking away the cash, albeit sometimes small amounts, it can really add up to make next Christmas much more manageable."

However, for households which have struggled with rising prices and may find it impossible to put aside a significant amount, secured loans could be one way to fund the festivities and any other expensive ventures that need to be covered this winter.

Meanwhile, consumers with a cash pot provided by a secured loan may want to follow the advice of Dr Owen Roberts, head of Callcredit Check, who advises individuals not to panic buy presents and to always shop around for a good deal.

People have yet to build up a substantial retirement cash pot which can comfortably fund their lifestyles when they leave the workforce, it has been said.

As such, people are living frugally now in order to make sure they have enough for later life, claims Hetal Parmar, manager for savings at Alliance & Leicester.

"We all look for a comfortable lifestyle in retirement and whether it is paying for a holiday, updating the car or covering the costs of healthcare or whatever it is," he says, although such ventures could be paid for with a loan.

Indeed, 58 per cent of people have told the bank that they are under no illusions that their retirement is going to be an extravagant time, Mr Parmar adds.

Research by the bank discovered that 35 per cent of people will make or have made sacrifices in order to build up their financial retirement coffers.

But for households which would rather not scrimp and save for years to come, secured loans could provide the cash to pay off any outstanding debts and may cover the future's ventures, such as a holiday or a car.

Households may want to look for other ways to fund their Christmas festivities after one sector organisation has warned consumers that bank charges for going overdrawn have shot up within the past year.

As such, the £25 charge as it stood in November 2007 has now increased to £30, claims MoneyExpert, meaning that Britons may now want to consider taking out a loan in order to pay for any winter ventures.

Indeed, the price of dipping into an overdraft is one present that people will not want to open on Christmas Day, Sean Gardner, director of the website claims.

"Across the board borrowing is increasingly expensive and those customers living in their overdraft need to be aware that in the majority of cases they'll pay a premium for this cash," he says.

Furthermore, Jim Hodgkins, managing director of CreditExpert.co.uk, states that families can still have a fun holiday season without splashing out on expensive gifts.

But for revellers unwilling to scrimp, secured loans could not only fund the expense of Christmas, but also may pay for any winter home improvements needed, such as extra insulation, a new boiler or renovations for 2009.

With Christmas the most attractive time for burglars to brave the freezing weather, one organisation has urged people to make sure that they have home insurance to protect their climbing contents value.

Indeed, as the presents start to pile up, would-be thieves may be tempted to see what expensive items they can get their hands on, warns Virgin Money.

Homeowners who have taken out a loan to cover the festive fun may also want to pay for a comprehensive home insurance policy, as well as extra security measures which could keep the burglars at bay.

And even though there is a credit crunch, Grant Bather, spokesperson at Virgin Money, says: "We'll still be spending and buying presents and entertaining and that means potentially thousands of pounds worth of extra goodies in homes over Christmas."

Furthermore, esure says that accidental damage cover is also important in case an unexpected incident occurs.

Whether spent on an insurance policy, Christmas gifts or on home improvements to boost security, secured loans could provide a much-needed cash injection for families this holiday season.

People approaching retirement may want to consider taking out a loan to maintain a comfortable lifestyle after research has revealed that nearly half of over-55s are concerned they will have to live frugally.

According to Birmingham Midshires, 21 per cent of over-55s questioned claim they will take on a part-time job to supplement their retirement income.

Furthermore, 33 per cent say that they will live on a minimum budget, although both unfavourable options could be replaced by a secured loan, which may boost the retirement coffers of a household.

Tim Hague, director of savings and investments at Birmingham Midshires, says: "When people should be winding down to their retirement and enjoying their financial nest egg, the over-55s are more concerned than ever about whether they can afford to live on what they have saved."

Indeed, Alliance & Leicester found that 42 per cent of the over-50s questioned claim that they plan to make sacrifices, or have already done so, in order to boost their retirement funding.

But secured loans could be one way to pay for any large ventures people in retirement may wish to take, be it a new car, a luxury cruise or much-needed home improvements.

People worried about whether now is the right time to take out a loan to pay for Christmas may be interested to hear the advice of one sector commentator.

According to Darryl Bowman, director of CreditExpert.co.uk, the holiday season is a time to have fun and people may not want to sacrifice that in order to stay in the black.

Indeed, he claims that if individuals do decide to go into debt, they should do so responsibly, while one option households may think is the most suitable for them to cover their costs could be secured loans.

"Don't over extend yourself and try your hardest to find the right product that is best for you and costs you as little money as possible," Mr Bowman advises, while people may be interested to know that secured loans could have a lower annual percentage repayment rate than other loans.

Such a cash injection may be needed after Abbey revealed that disposable income has dropped by 29 per cent within the last two years.

While secured loans may provide a Christmas cash pot, the lender may be given security in the form of a current property, should the borrower stall on repayments.

Energy providers should not be seen as enemies and may be able to help families who are struggling to pay their gas and electricity bills, it has been claimed.

Before taking out a loan to cover expenditures, people may be interested to hear that according to one sector commentator, there may be tariffs available for low-income households.

Maria Wardrobe, warm homes campaigner for National Energy Action(NEA), also claims that switching providers may result in cheaper gas and electricity bills for individuals, although if paying for energy is just the tip of the financial iceberg, secured loans may help to cover costs.

"I don't really think we are going to see any reductions in the price of energy until 2009 sadly, although we would be greatly appreciative if this were the case," she says.

Furthermore, research by the NEA found that the average annual gas bill is £817, while electricity stands at £471.

As such, as prices may continue to rise, secured loans could provide struggling households with a cash pot to cover costs until their financial situation begins to improve.

People may want to consider taking out a loan to pay for energy-efficient measures after it has been claimed that home heating bills can be reduced by some simple green actions.

Installing an energy-efficient boiler and lightbulbs, as well as insulating a property, can shave the pennies off rising household expenditure, says Jane Gatiss, PR manager for eaga and Warm Front, a governmental grant scheme.

Households which fit such lighting may find themselves pocketing an extra £10 a year per bulb, she claims.

"If you are eligible for the scheme you can benefit from things such as loft and cavity wall insulation, glass proofing and central heating systems," Ms Gatiss advises.

But for households who do not qualify for such a grant, secured loans could be one way to make green home improvements, which could end up in individuals saving money further down the line.

Such financial help may be required after National Energy Action revealed that between 2003 and 2007, electricity prices increased by about 60 per cent, while the cost of gas shot up by 90 per cent.

People may be encouraged to flood proof their homes if there was a VAT exemption on the cost of putting up such weather defences, it has been claimed.

Money would be saved by the government and households in the long term if flood repair and defence work was made cheaper, says Graeme Trudgill, technical and corporate affairs executive for the British Insurance Brokers Association (BIBA).

And while a loan may cover the costs of making a home weather proof this wet and windy winter, a large amount of money could be required for people to replace damaged items until an insurance payment comes through.

Indeed, Mr Trudgill says a lot more can be done to provide adequate flood protection, stating "anything we can do to help with the defences of the property and making it more affordable is a very sensible thing to do in our opinion".

BIBA has also called on insurance firms to offer improved terms and conditions or discounts to those property owners who act to reduce flood risk.

As such, taking out secured loans could not only help households cover the cost of storm proofing a home, but may also lead to lower priced insurance policies, further saving money.

People wondering whether to take out a loan to pay for essential home improvements may decide to do so after hearing the warnings of one organisation.

According to uSwitch.com, 42 per cent of households are putting safety at risk by not getting their boiler serviced, a move which could lead to individuals being poisoned by potentially fatal carbon monoxide.

In addition, 64 per cent of households admit that they do not have the cover in place to pay for the repair bill if a boiler or heating system breaks, the website's research discovered, although a loan could pay for any winter expenses.

Commenting on the findings, Ann Robinson, director of Consumer Policy at uSwitch.com, says: "With household budgets stretched to the limit, making a quick saving can seem very tempting."

And she continues: "However, not having an annual gas safety check could have some very serious consequences for both your health and your finances."

Such news comes after the website recently reported that people were chancing their safety by driving cars that were not roadworthy, due to financial pressure.

But for any home improvements needed, individuals may want to pay for such ventures with secured loans.

People may want to give their accounts a warming boost with a loan, after one sector organisation claims that 5.4 million households in the UK are suffering from fuel poverty.

According to National Energy Action (NEA), the average gas bill has seen a 147 per cent price increase from January 2003, while the cost of electricity has shot up by 94 per cent in the same period.

Indeed, not only are such increases resulting in fuel poverty, but also poor energy efficiency and low household income, states Maria Wardrobe, warm homes campaigner for the NEA.

However, it could be said that secured loans may pay for greener home improvements which could see energy bills cut further down the line.

"Energy prices are the one[s] that [are] the most volatile at the moment but we do need to address the other two [factors]," she says.

Research by the NEA shows that since the start of 2008, electricity prices have risen by 27 per cent, while gas has shot up by 44 per cent.

Secured loans may be the wise option for individuals looking for a way to secure cash to cover the cost of bills or to upgrade home appliances.

Britons may find themselves turning to a loan after a study has revealed that people are experiencing on average five cash-free days after their wage has run out.

Over 60 per cent of individuals told Abbey that they will have to make sacrifices this Christmas as they are struggling to extend the cash in their current accounts to last until their next pay cheque.

Furthermore, the bank claims that disposable income has dropped by 29 per cent in the last two years, which may mean that secured loans could be one option for households to fund everyday expenditures or much-needed home improvements in time for the festivities.

Commenting on the news, Steve Shore, director of banking at Abbey, says: "A staggeringly high number of people regularly fail to budget effectively each month and end up running out of cash before their next pay cheque."

However, AXA recently claimed that unless households enjoyed an income of £70,000, families would have to dip into savings to pay for everyday items.

But one way which may avoid that is to apply for a secured loan, where the total lent could depend on the amount of mortgage owed and household incomings.

Parents may want to take out a loan to pay off money owed, after the leader of the Liberal Democrats Nick Clegg has warned that youngsters face a bleak future riddled with debt.

Speaking at a Youth Parliament event, Mr Clegg said: "We've been addicted to debt and now we're having to go cold turkey," adding that the economy is in its current mess because of people's poor spending habits.

However, a secured loan could be one way for households to wipe the sheet clean and pay off any outstanding money owed, which may ensure a brighter future for their youngsters.

"Every one of us is going to borrow money at some point in our lives. To buy a home. To buy a car. To afford university. We need to know how it works," he told the audience.

Mr Cleggs comments come after AXA advised that putting ten per cent of a monthly wage away may leave individuals with a cash pot to spend on Christmas presents.

But whether they are used to fund this holiday season, pay off debt or to buy a large purchase such as a new car, secured loans may have a lower annual percentage rate than other loans on the market.

Although making a business green can save money in the future, upfront investment is needed, it has been said, although a loan could cover such costs until a firm reaps the financial rewards.

The National Computing Centre (NCC) states that making IT systems environmentally-friendly can reduce expenditure in the long term, although people may be put off by the initial money needed at the beginning.

Commenting on the issue, Michael Dean, group marketing manager at the NCC, says although "organisations are happy to undertake easy to implement solutions, such as switching off power of PCs overnight and print management, capital investments are less likely to be signed off".

Indeed, the Department for Environment, Food and Rural Affairs has upgraded their infrastructures to become greener, at a cost of £3.8 million.

However, smaller firms looking to save money against rising energy prices may want to follow the department's lead, although secured loans could provide the initial outlay until money is recouped.

Such loans may be secured against a current property, to ensure that the lender is protected should the borrower stall on payments.

People need to be aware of the financial help they can receive if they are out of full-time work for a long period, it has been stated, although a loan could provide a cash pot for those suddenly without a job to fall back on.

Individuals also do not realise the changes to the Welfare Reform Act, a piece of legislation important to workers, says a spokesperson for LV=.

Commenting on the situation, she explains that nearly 18 million people in the UK "are unaware of financial support that could be available to them and the fact that the Welfare Reform Act has bought about quite significant changes to payments people might be able to receive".

Research by the firm found that 5.8 million people could come under severe financial pressure should they be unable to work, because they are unsure about what they are entitled to or expect to receive no monetary assistance from an employer.

But rather than putting themselves in an uncertain situation, individuals may want to take out a secured loan, which could reassure them that they have money to fall back on should they lose their job.

Women are more concerned than men about the future of their savings and whether or not they have enough for their retirement, a recession survey has revealed.

Financial security is a concern for 43 per cent of women, although this figure drops to 25 per cent for men, the study by Moneywise.co.uk found.

However, a loan may allow expenses such as interest owed on credit cards to be paid off, therefore freeing up cash which could be put to one side for the future.

Rachel Lacey from the website, says: "The question is whether men are over-confident about the future or are in a better position for their old age."

But for those who wish to take out a secured loan, they may want to remember the warnings of the Money Advice Trust, which said that lenders and borrowers have a joint responsibility to make sound financial decisions.

One such decision could involve secured loans, although the lender may want to make the person aware that this type of loan could be secured against a property.

Many people would not be able to survive if they put out of work, it has been claimed, although a loan may provide a cash injection to tide households over should such a scenario occur.

According to LV=, individuals need to check their financial security regularly to ensure that they have the correct income protection.

"The research showed that on average, people could manage [without an income] for two months or less. It just goes to show that people might come under a lot of financial pressure quite quickly," a spokesperson for the firm says.

Furthermore, individuals do not realise the position that they would be in should they find themselves out of work, she adds.

In addition, a survey by LV= discovered that 30 per cent of adults state that they could not survive for more than two months on what they have saved if they were put out of full-time work.

But if a household suddenly found themselves with a drop in income, secured loans could provide a cashflow and may have a lower annual percentage repayment rate than other loans.