Across England people are tightening their belts for Christmas. Savings accounts are apparently at their lowest at this time of year, as many people in Britain decide to flee to warmer climates for a winter break . Other cash withdrawals have been for car repairs and expenses, the need to pay off unexpected bills or payment for a holiday .

The cost of motoring in the UK climbs year on year, as car insurance, car finance repayments, MOTs and servicing costs, fuel costs and road tax all add up. The need to keep your car maintained is also an expense.

The report came from the savings operation Birmingham Midshires, who showed that women were more likely than men to raid their savings accounts . The director of savings operations at the company, Jason Robinson, said: It is often tempting to dip into our savings account to pay for a winter getaway or to rely on it to fund emergencies. However, if we raid it too often we'll end up with no savings. Rather than raiding the piggy bank, we suggest factoring these unforeseen costs into the annual budget . This way savings accounts aren't affected when emergencies crop up.