One in 10 Brits spend over £1,000 during Christmas

(2 minutes to read)

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It will come as no surprise to learn that the majority (88.4%) of Brits find Christmas to be an expensive time of year.

According to the recent CV-Library report, one in 10 of the 1,100 UK workers surveyed admitted to spending over £1,000 during the festive period.

When asked what they spend most of their wage on during Christmas, the following answers were given:

– 91.6% spend their pay on Christmas presents for friends, family and colleagues.

– 58.3% splash the cash on Christmas dinners.

– 44.3% spend their wages on festive social events (with a further 36.8% saying that their money goes on New Year’s Eve celebrations).

– 39.8% put their money towards travelling to visit family.

Half of Brits say that they start budgeting for Christmas early, with 47.8% spending anywhere between £200 to £500 and a further 21.6% spending between £500 to £900.

Founder and managing director of CV-Library, commented, “The festive season can be costly, especially if you’ve filled your social calendar with dinner dates and Christmas parties. That said, with Brits spending as much as half their December pay packet on these festivities, it’s important to take these costs into account. The last thing you want is to start the New Year with the weight of Christmas still tugging on your purse strings.”

He added, “While it’s understandable that you want to spend time with your loved ones and partake in the usual traditions such as roast dinners and gift-giving, it’s vital that this doesn’t come at a huge expense to you. Instead, remember what is really important at this time of year and be wise with your spending!”

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