Towards the end of November, the Church of England unveils its annual antidote to Christmas consumerism in the hope of pricking a few consciences with a reminder of simpler times.

Normally, their efforts are given barely a second glance by the hordes of shoppers desperately throwing money in the general direction of the nearest high street. However, 2008 might just be different.

According to research published earlier this month, this is set to be the worst Christmas for a generation in financial terms, with the threat of redundancy, rising bills and continued uncertainty about the property market all helping to cast this year's festivities in a more frugal light.

Families will spend on average seven per cent less this Christmas than last year and with many realising the extravagant outside light display or pile of unwanted gifts is one luxury they can do without this year, the Church is hoping to capitalise on this new-found back-to-basics approach.

Yesterday, a bishop, an abbot and a canon revealed the finer details of the Why Are We Waiting website which hopes to prove once and for all that patience is indeed a virtue.

"It's not a killjoy's manifesto," said the Rt Rev Stephen Cottrell, Bishop of Reading, whose contribution to the site from his book Do Nothing Christmas is Coming includes cutting up the credit card, making friends simple homemade gifts and ruthlessly pruning the Christmas card list. "What it does offer is another way of celebrating Christmas, allowing its joys and promises to help put life back together again rather than risk imploding it with all the conflicting demands and expectations the season can bring.

"Modern life can be so hectic and there is so little time for reflection, but at this time of year it is the one thing we all need. The Church hopes to encourage people to consider the preparations for Christmas in slow motion. It's about creating time amid the rush to rediscover the real joys of the festival and looking afresh at how to prepare and wait patiently for the celebration of Christ's birth.

"The book is essentially a conversation between the imagined voice of the sort of frazzled and fragmented person that many of use become at Christmas and my own reflections and suggestions on how to make sense of it all. Some of that advice is included on the website as a reminder that patience and waiting brings its own rewards."

The online advent calendar, which includes an introduction by a softly lit and softly spoken Archbishop of Canterbury launches this weekend and as the Church seeks to embrace new technology it will be updated with podcasts from the likes of the Archbishop of York and will include a quiz on the social networking site Facebook .

"Each day there will be a season hint to help people rediscover forgotten joys," added Rt Rev Cottrell, who launched the campaign with Father Christopher Jamison and Canon Theologian Dr Paula Gooder. "We hope the website will help people realise that waiting is not a waste of time, but a period of change, growth and transformation.

"The four weeks of advent is much more than the countdown to Christmas or the season of shopping. The credit crunch has made people reconsider what they are spending their money on and now is also the perfect time for people to consider the environmental impact of overconsumption.

"The idea of having to wait has negative connotations, but it isn't necessarily always a bad thing. Sometimes after a period of reflection you realise you don't want the thing you so desired after all, saving yourself time and money. Other times what you want is even more welcome for having had to wait.

"Hopefully this will be a timely resource giving people breathing space in what is often the most busy and stressful time of the year, allowing people to think carefully about how they should best use their resources.

"Many advent calendars now offer a daily piece of chocolate – what this website offers is a daily dose of chocolate for the soul."

Given the events of the last few months, a little divine intervention may be just what the doctor ordered.

www.whywearewaiting.com begins fully on Advent Sunday, November 30.