Like many nations in our global economy, Britain is now officially in recession. With the number of repossessions rising and further job losses expected, it might seem that there's precious little festive cheer around at the moment. It's reported that even Britain's 'Mr Christmas', Andy Park, who has celebrated Christmas every day for the last 14 years, is scaling back his celebrations.

Still, need Christmas be about spending cash ostentatiously? Is it possible to have a great Christmas on a budget? Alternatively, do you think more spartan celebrations might inject a bit of the 'real' meaning back into the festivities?

This week we'd like you to tell us:

• Have you noticed yourself and or others spending less this year?

• Are the shops less busy than they are normally at this time of year?

• Do you think Christmas is too commercial anyway, and think that people should be shopping more thoughtfully and less extravagantly?

• Alternatively, would you never think of cutting back at Christmas?

• Do you prefer expensive gifts, or do you genuinely feel that it's 'the thought that counts'?

• Do you have any festive money-saving tips that you can share with us?