Average household expects Christmas to cost £1,502 this year - where the money goes
Christmas is all well and good until you remember that you actually have to pay for things.
And the average household, according to new research, is expected to spend a whopping £1,502 on the festivities.
A survey of 2,000 adults for Christmas savings club Park showed that families are set to fork out an average of £693.80 on presents alone.
Whole turkeys and crowns range from £35.00 to £135.00+, with Christmas dinner setting households back £185.80. Sweets and treats will add another £158.20 to the bill.
Advert
That’s all before factoring in other stuff like alcohol, soft drinks, decorations and other activities in the lead-up to Christmas.
At the markets, a hot-dog will set you back a tenner, if you're lucky, while a £7 hot-chocolate, even if you do get to keep the mug, doesn’t sound like the best of deals.
Despite the hefty price tag, just 22 percent of people questioned in the survey have been putting money aside throughout the year.
Interestingly, younger adults are planning to splash out the most.
Gen Z households expect to spend an eye-watering £2,274 on Christmas, compared with £870 for Baby Boomers.
But they're also the most worried about the cost, with 80 percent of Gen Z concerned about affording the celebrations, compared with just 37 percent of Boomers.
As reported by The Mirror, Simon Birch, Park Christmas Savings’ director of prepayment, said: “With the cost of Christmas adding up, many families may be thinking carefully about how they can make the most of the festive season while staying within their budget.
“Christmas is an important time for families and everyone deserves the opportunity to enjoy it without putting unnecessary pressure on their finances.
"Planning ahead and spreading the cost can make it easier to manage spending and give people greater peace of mind as the festive season approaches.
“For Park customers, saving a little each week or month throughout the year can be a simple way to build up a Christmas fund. By setting money aside and ring-fencing it for Christmas, customers can spread the cost over time and have a little more confidence when the festive season arrives.”
Anish Vij