Brits are going to splash the cash this Christmas with the average spend for one person predicted to be a staggering £437.

A survey by MoneySupermarket.com has predicted Christmas spending is set to hit £21 billion, with each person spending a £437 on gifts and festive celebrations.

With the economy being gloomy and less disposable cash floating around it's comforting for retailers that consumers are still willing to spend their money. Earlier in the year there was worry around whether spending would be high this year given the economic downturn.

The survery also looked at how parents afford their children's presents and only 1 in 5 said they set a budget and stick to it. The rest said they would either set a budget but probably excced it or don't feel their spending is out of control so won't be setting a budget at all.

Simon James, shopping expert at moneysupermarket.com said: "Christmas shopping is a significant area of expenditure for parents in particular. However, there are a number of ways shoppers can keep costs down. Use the internet to research gifts and use a comparison site like MoneySupermarket Shopping to compare prices and save money.Anything can be purchased on the internet and online spending has been set to soar this year with more consumers buying online than in shops. We've covered some tips to shop online safely."

Make sure you're computer's safe: It's essential these days your computer has anti-virus software to protect it from any online virus

Buy from where you trust: Try and stick to familiar sites you've bought from before and know they're reliable. Most sellers have reviews or customer feedback so you can see what they're like.

Never give out your details: If you ever get asked online for your account details from an unknown email or somebody over the phone rings from Microsoft, it's most probably a scam so never give your details!