Average family Christmas costs rise to £1,500 this year

Summarised from 2 outlets · Updated 11 Oct, 13:00 · Archive

The average UK household expects to spend £1,502 on Christmas this year, roughly £400 more than last year.

New research from Park, the UK's biggest Christmas savings club, suggests the average household will spend £1,502 on Christmas this year. This breaks down to £693.80 on presents, £185.80 on Christmas dinner and £158.20 on snacks, sweets and treats, with alcohol, decorations and festive activities making up the remainder. The figure represents an increase of around £400 compared to last Christmas, driven by rising food, energy and housing costs.

Four out of five adults surveyed admitted they are worried about how they can afford a decent festive period this year. More than a third (35 per cent) are planning to go into debt to pay for it. The methods include using a credit card (23 per cent), going overdrawn or taking out a loan (nine per cent), and borrowing from friends or family (three per cent). Only 22 per cent of the 2,000 people surveyed say they have been saving during the year to pay for Christmas.

The Daily Mail reports that despite financial pressures, younger adults still plan to celebrate in style, with Generation Z households expecting to spend an average of £2,274, more than two-and-a-half times the £870 planned by Baby Boomers. However, younger adults are also more anxious about how they will pay for it.

How it is being reported

• It's beginning to look like an expensive Christmas: Families face £400 rise in festive bill this year as cost of living bitesFamilies in the UK face a £1,500 Christmas bill this year amid rising costs, with a third of Britons saying they are prepared to take on debt to cover the festive splurge.Daily Mail · 11 Oct, 12:49
• Christmas will cost average family eye-watering £1,500 this year after huge price riseNew research suggests the typical household expects to spend £693.80 on presents, £185.80 on Christmas dinner and a further £158.20 on snacks, sweets and treatsThe Mirror · 10 Oct, 12:11

In this story: Park · UK · Generation Z · Baby Boomers

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