Martin Lewis warns the average UK household will need to find extra £800 in next two months

Martin Lewis has issued a stark warning to UK households as millions of Brits face a financial hangover in the new year as they try and fund the festive season

With the festive season approaching, Martin Lewis has sent out a stark warning about the potential financial pitfalls that UK households face, emphasising the importance of planning ahead for Christmas. Speaking on his BBC Sounds podcast with 99 days left until December 25, the Money Saving Expert and familiar ITV face delved into common mistakes people make during the festive period.

He shared his insights: "This is all about your worst financial mistakes...one of the big mistakes many people make at Christmas is they, in their mind, come up with a lust list - what is the perfect Christmas."

Lewis went on to caution listeners, saying: "And if you come up with a lust list, for most people, that will either lead to one of two things: debt or disappointment because you won't get it."

He added, with a hint of 'bah humbug': "Now, forgive me for being all bah humbug about this."

The consumer champion further explained: "But Christmas is a huge proportion of the year's annual expenditure, the average person spends £800 on it, the average family... 800 quid a year. It's getting up there with a family holiday. Most people can't afford that out of December's income.", reports Birmingham Live.

Highlighting the need for earlier preparation, he advised: "You need to do some pre-planning and if I may just take a bit of an advantage for the moment to say this is a public service announcement to everybody...Christmas this year will be on the 25th of December, note that down it's not unexpected.."

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"But when I come into January, January is the biggest time for all the debt counselling agencies and when you talk to people about why they've gone then, they say Christmas of course."

Mr Lewis stated: "But Christmas is not unexpected which is why we're doing it now because you need to plan for it now.."

He cautioned that Christmas may not be "worth the financial hangover". Mr Lewis added: "And if you're shouting back: "Yeah right, I can't afford anything", do listen to yourself (and follow some of the money making tips below), take a deep breath and consider going spending cold-turkey this year... Christmas is just one day, don't give yourself a New Year financial hangover because of it."