Martin Lewis has issued a stark warning to UK households – and said people need to act now before it’s too late. Speaking on BBC Radio 5 Live, he pointed out that many people, even those who are usually financially savvy, often fall into common traps when it comes to Christmas spending, and need to get a move on.

He emphasised the danger of setting unrealistic expectations for the holiday season and overspending as a result. He also touched on the potential harm that can come from buying…