Elderly people are being encouraged to take more control over their finances in the run-up to Christmas.

Help the Aged and Barclays have partnered to launch a guide, called Your Money Matters, to help older people organise their cash during the festive period.

The project aims to raise awareness of financial issues that may affect older people, to improve their skills in money management and provide assistance to those who may face debt problems.

Rachel Corry, manager of the Your Money Matters programme, explains that many older people may feel anxious due to the pressure to spend cash around Christmas time.

"By taking more control of their finances and planning a spending budget in advance, some of this pressure can be alleviated," she comments.

Help the Aged advises working out a realistic financial plan and sticking to it regardless of the temptation to overspend.

Recent research by Sainsbury's Bank suggests that by mid-November, the adult population of the UK have spent an estimated £6.29 billion in preparation for the festive period.