What’s the true cost of Christmas?
Christmas is notoriously an extremely expensive time of year. From spending on food to presents to decorating the house, many find themselves counting pennies from the New Year.
Especially after last year’s Christmas was disappointing for so many, as we weren’t able to spend time with our loved ones, it is expected that 2021 is going to be about making up for lost time.
In this article, gifting expert, Rob Crump from Printster notes reveals the average cost of Christmas, including the price of dinner, presents and decorations and advises on how to keep costs down without compromising on quality.
How much Christmas Day hosts can expect to spend?
On average, Christmas Day hosts can expect to spend on average of £876.98 for the big day alone, which includes the cost of Christmas dinner, decorations and presents.
The most expensive part of this is due to presents, so even just guests who aren’t contributing to Christmas dinner can still expect to spend £608.34 for their day. This is broken down to the following.
Cost of food: £33.58 per head (£268.64, based on a group of eight)
Unfortunately for Brits, many key ingredients for Christmas dinners have risen significantly, almost as much as 25%, resulting in more costly Christmas dinners. Almost everything from potatoes to turkeys are seeing an increase in prices. This has been caused by many issues, including supply chain costs increasing and even material shortages in the last couple of years.
Cost of presents: £530.44
Perhaps unsurprisingly, the cost of gifting around the Christmas season is one of the biggest contributors to financial stress. According to YouGov, the average cost of gifting back in 2020 was £408 and much like most other aspects of Christmas, this is set to rise up to 30% for 2021 spending, especially after Christmas last year was disappointing for so many.
Generally, consumers are planning to spend more this year, reflecting how many families will be reunited after a year apart. However, you can still have a great Christmas without spending more money. Start shopping early, ideally in November, and use Black Friday sales, as many bargains can be found. Set a realistic budget and stick to it.
Cost of decorations: £77.90
Research shows that the average UK household tends to spend around £77.90 on new household decorations. “Not just including the costs of Christmas trees, but those who buy new decorations each season, or perhaps those who are just replacing broke, or tired decorations, the cost can vary from household to household,” Crump explains.
Three tips to help you save money at Christmas
So, with the total being £876.98, how can we keep costs down without compromising on quality? With an estimated 50% of Brits getting into debt in order to foot the festive bill, Crump offers three simple tips below to save money and stress during the festive period.
1) Stay organised and make lists
A seemingly obvious suggestion but impulse spending, especially when it comes to Christmas, is easily done. By making lists of everything you need to buy, from food to presents and, most importantly, sticking to those lists, means you can stay within your means.
2) Opt for a Secret Santa
If you have many people to buy gifts for, for example extended family or large friendship groups, then suggesting a Secret Santa can help keep costs down. A misconception with Secret Santa gifts is that they are impersonal, normally favoured for corporate environments, however this is not the case.
Secret Santa gifts for closer relations means less presents to plan for, so you can take time to choose the perfect gift. Set a realistic budget, which can be as little as £10, and choose presents such as personalised mugs or personalised photo cushions, with a photo you know your loved one will appreciate.
3) Share the cost
A fun idea to help share the load is offer a potluck Christmas, where each guest brings their own dish to contribute to the meal. A potluck dinner reduces the host’s work while allowing guests to bring dishes they know they enjoy. Spreading this food cost not only means less work for the hosts but less money spent too, as individual dishes can be made relatively cheaply.
Read more Christmas tips
Want to make this Christmas extra special? You can read more Christmas tips and ideas in these articles: