Financial services group Nordea says only one-tenth of people in Finland plan to use credit to pay for Christmas this year.
According to results from a survey the bank commissioned Finns will spend on average 490 euros on Christmas this holiday season, 200 euros of which will be used for gifts.
Olli Kärkkäinen, an economist at Nordea, says he is surprised that the current economic growth is not reflected in most people's Christmas budget.
"In fact, the budget for this year is lower than last year," Kärkkäinen says. In 2016 Nordea's survey showed an average Christmas budget of 517 euros per person.
Nordea's survey also shows that about 15 percent of men are not planning to buy Christmas presents at all.
In contrast to Nordea's figures, the Finnish Commerce Federation believes that Finns will spend more during the holiday season this year.
According to its Christmas Present Index, families in particular are buoyed by strong economic forecasts and tax refunds that will be paid out at the start of December.
"It is also looking like more and more people will start Christmas shopping in November, now that the Black Friday campaigning has hit it big here too," says Jaana Kurjenoja, chief economist at the Federation.
"We at Nordea recommend that consumers watch closely how much they spend so as not to exceed their budgets," Kärkkäinen says.