We all love it. Christmas’ day and stockings are brimming with presents. There is only a small problem to sort out first, and that is how to get the pressies there. The closer it gets to the 25th of December, parents and other shoppers get more and more panicky. The very worse day was last Friday, called Black Friday, when most people are out and about in the shops because of extra discounts. That day was also the one with most people using the London tube system ever.
This year, people here in Britain say they will spend £868 on average for Christmas, £6 more than they spent in 2002, so says the latest research.
The spending on food, drink and decorations is expected to go up compared with the last year, but at the same time people plan to spend less on presents, according to debit card Switch. Switch has asked consumers what they are planning to do, and on average they say they will pay £345.65 for gifts, although some say they will spend more; 35% of people are prepared to put at least £500 on presents.
On average people buy presents for 12 members of their family or friends, with a third of people saying the most expensive gift they buy will be for a child, followed by 16%, who will spend most on their wives, and just 7% who will spend most on their husbands.
People living in Scotland are the most generous when it comes to buying presents, expecting to spend over 400 pounds, while those in the South will spend the least at nearly 100 pounds less.
Beyond presents, people also spend a lot on food and drink, decorations, accessories, Christmas cards and postage.
Many people spend more than they are earning: Two-thirds of people will pay for the cost of Christmas using savings and 9% said they would use a credit card or loan, but 19% of people admitted they failed to budget for the festive season.
People also end up buying items they don’t want because they get dragged into shops they don’t want to be in and then somehow end up buying items they don’t want.
By Callum