A third of Londoners say they will put Christmas on the credit card.
And 4% feel they may have to take out a 'pay day loan' in order to make Christmas feel special.
That's according to the results of the annual Christmas survey out today by the Money Advice Service.
40% of those who took part say they are worried about how much they will spend on Christmas this year.
In the capital, the average spend is set to be £433 for all the Christmas trimmings.
The top reasons for overspending included: pressure to please loved ones, wanting to give children the perfect Christmas and being tempted by special deals and offers.
But according to the survey, Londoners will also spend less on Christmas than the 12 other regions in the survey.