The real cost of Christmas

December 22, 2016 | 6years | NEWS AND INTEREST

Our Christmas spending is rising every year and more of us are struggling to clear last year's festive costs. So just how much will the season of joy cost you? Here's your Christmas in numbers

The financial world is full of headline figures that put our everyday spending habits, mistakes and opportunities into pounds and pence – how cutting out that takeaway coffee everyday could save you enough for a fourth-hand Bugatti Veyron in a couple of thousand years, you know the kind of thing.

Some of the stats are laughable, others tragic. But nowhere else are they as disconcerting for the old bank balance as they are at Christmas.

In fact, we’ll spend an average of almost £54,000 each on Christmas over the course of our lives, with one in three relying on credit cards to do it this year, amounting to almost £11bn of spending.

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