Finances will be stretched this Christmas for 1 in 10 people who can’t afford to buy presents this year, according to research released today.

CPP, an organisation that provides card and identity protection to consumers, has compiled a top 10 list of factors that make Christmas more stressful, according to consumers.

Top of the list was spending too much money, closely followed by choosing the right presents. Dealing with crowds and queues when Christmas shopping was also voted among the top 10 most stressful events, as was preventing arguments, eating and drinking too much and putting on weight.

A third of the respondents admitted to turning up empty-handed on Christmas day in the past, due to financial problems. As a result, three quarters of consumers are dreading Christmas because of the associated financial constraints.

Nick Jones, communications manager at CPP, warned consumers not to add to festive stress by leaving themselves open to identity theft. “While the Christmas period can be stressful in terms of filling stockings, don’t take your eye off the ball when it comes to the security of your bank account and personal details,” he said. “Debit, credit and online spending are all estimated to increase this Christmas and people should make sure that they protect and safeguard their personal information during the festive season.”