Are you still counting up the cost of Christmas?

How much did Christmas cost you last year?

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If you don't know, now would be a good time to add it all up.

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Prior to the Covid pandemic of 2020-2022, our annual high street spending at Christmas was estimated to have been in the region of at least £26bn nationally. Average household expenditure on Christmas presents was around £500. In addition, almost £300 per household was spent on food and drink, travel, decorations and other items. With increased costs of living and inflation this year (2023), that situation could change. But although it is more and more difficult to obtain accurate up-to-date statistics in light of online as opposed to high street shopping, the forecasts are not promising. Christmas is still regarded as a time to spend, spend, spend... and the retailers and advertisers are all still urging us to do so. There are constant pressures on people to spend more than they can afford. This is not helped by the fact that Christmas spending still remains a key indicator of economic performance in this country, in keeping with our service-led, consumer-led economy.

Moreover, Christmas spending creeps up on you.  Immediately after 25 December last year, you may have started spending for next Christmas, by buying leftover cards, wrapping paper and decorations from the shops; and maybe by investing a little money each week in a Christmas savings scheme at a local retailer - all with a view to saving money next time round.  On your holidays, you may have started acquiring gifts for friends and family.  And then there's the big spending rush in the run-up to Christmas itself, when we do most of our seasonal shopping.  Plus travel, parties, entertainment - the lot.  Meanwhile, there are the bills from the past Christmas.  A large number of us start shopping for the next one with those bills still unpaid. There is now a growing movement for a 'Buy Nothing Day' to replace Black Friday, both nationally and internationally.

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