Despite the apparent economic downturn and the double dip recession there seems to be no reduction in amount families are spending this Christmas. Several sources have stated that this Christmas is set to be one of the most expensive in recent memory with family budgets being stretched well into January and February.
Christmas is by far the most expensive holiday for the average family but with planning and preparation many of the most expensive costs can be avoided.
So just to get everyone in that budgeting mood I have collected some of the more expensive outlays during Christmas.
– On average each person will spend around £20 on Christmas crackers each Christmas
– Children continue to be one of the major drivers for expenses with the average child receiving £250 of Christmas presents over the festive period
– It is estimated that Christmas costs around £920 for the day, equating to £76.66 per hour and £1.28 per minute
If you want to find out more about the costs of Christmas then have a look at this infographic on the debtroundup.com.
Another study from allfancydress.com again showed that there has been no let-up in the cost for families at Christmas with almost half of the respondents stating that they expected to spend over £250 pounds on Christmas presents during Christmas.
Also the older you are the more expensive it becomes with expenditure doubling during the period from a person’s 20’s to their 50’s with the latter being the most expensive decade for a person at Christmas.
Having children seems to be the major expense with those with children twice as likely to be spending large sums on presents at Christmas.
However men seem to be getting away more often than women at Christmas with 25% of respondents stating that they expect to spend less than £60 on gifts.