This is how much Brits spend on Christmas celebrations

This is how much Brits spend on Christmas celebrations

Finally, that time of the year has arrived. The much anticipated festive season. It’s that time of the year when your city gets decked up with colorful lights and you enjoy a roast dinner at home. It’s time to receive Christmas gifts from Santa Claus.

Brits love Christmas. They love everything to do with Christmas, and that is why they start shopping from July onwards. But how much do they spend on Christmas celebrations? Do you have any idea?

Okay. There is no need to explore the web world to find out the facts because I have done all the hard work for you. I have done extensive research and got all the details for you. And, here we go.

According to a survey conducted by Finder.com, Brits are likely to spend £26.9 billion on Christmas gifts in 2019. This implies that the average consumer will spend £512.85 for buying Christmas gifts. Then again, according to the survey conducted by the Nationwide Building Society on 2000 people, Brits are willing to spend almost £725 for Christmas shopping and partying with friends on December 25, 2019. When asked about how much they are ready to pay for buying holiday gifts for their relatives, Brits said that they can pay £363 for that.

The amount Brits are willing to spend for Christmas celebrations is not a small amount. It’s their 2 weeks’ worth of salary.

One in 12 consumers is planning to spend £800 on Christmas gifts. And, it doesn’t end here. Around 8% of Brits are willing to splurge even more than £800 on Christmas shopping.

The participants of the survey conducted by the Nationwide Building Society are willing to spend £67 per child this Christmas. Again, one-fourth of the people are ready to spend £100 per child.

The result of the survey shows that Brits have a big heart when it comes to Christmas shopping. Money is not in their minds when it comes to shopping for their partners since they are willing to spend £63 during Christmas. It’s completely another thing that only 4% of the participants are not interested in buying presents for their spouse.

It’s tough to say why this 4% of the participants are not willing to spend money for Christmas shopping. There can be a lot of probable reasons like:

  1. These people think from their mind when it comes to spending money on Chrismas shopping.
  1. These people don’t have the requisite money for buying Chrismas gifts.
  1. These people are rational people who don’t want to enjoy now and pay off debts later.
  1. These people are not that much interested in Christmas celebrations.

How much Brits are willing to spend on Christmas shopping in 2019

Pets

£20

Mother

£40

Grandparents

£28

Kids

£67

Spouse

£63

In-laws

£30

Dad

£33

Siblings

£31

Uncle/Aunts

£22

If we look at the result of the survey conducted by Finder.com, men are ready to spend £566 on Christmas gifts whereas women are all for cutting down expenses. They are willing to spend only £463 on Christmas gifts. Generation X wants to spend £636 on average on Christmas gifts, the highest amongst all the generations. On the other hand, generation Z is planning to spend only £212 on Christmas shopping.

Nopes. All Brits are not willing to splurge

Christmas is a good time for celebrations and playing games. Secret Santa is one of the most popular games played during this time. Less than a quarter of people are not happy to buy Christmas gifts for their colleagues at work.

Almost 1 in 5 people struggle financially after wasting a huge amount of money during Christmas time. Most of them get into credit card debt and suffer financially. Some of them use debt management plans to stabilize their financial life. Others use other debt relief assistance to get financial relief.

According to financial experts, Brits won’t be in any sort of debt problems if they create an emergency fund for holiday shopping. They can save a particular amount each month and keep it in the emergency fund. By the end of the year, they would have enough money for buying Christmas gifts without getting into debt.

Now many people don’t know how to create an emergency fund. Yes. This is a problem but it has a solution too. Tons of articles on tips to build an emergency fund are available online. They can just go through those articles and apply those tips.

Final words

Nothing should be extreme. While it’s perfectly fine to spend money on Christmas gifts but one shouldn’t cross his budget because 2020 is knocking at the door. It feels nice to exchange gifts but that shouldn’t break the bank. One can easily make something or cook meals for their loved ones instead of shopping recklessly. 

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