9, December, 2021, LONDON –

The average British household is set to spend around £997 each on festivities this Christmas, according to new analysis from the shopping comparison site, finder.com. This equates to 52% of the average monthly household income after tax and pension (£1,913).

Analysing top supermarket prices to calculate the average cost of a British Christmas, Finder has revealed which traditional favourites Brits could be splurging on the most.

Topping as the most expensive item on the food shopping list is wine where the average household could be spending an average of £66 on enough bottles for a family of 4 or above. This is followed by a cheeseboard selection (£32), Christmas pudding (£23), pigs in blankets (£22) and roast potatoes (£16).

In total, a Christmas dinner for a family of 4 or more is expected to cost £291 on average. At most, that’s £73 per person indulging in a festive meal on the big day.

Furthermore, purchasing Christmas decorations could cost £176 per household on average. The costliest items on the list are Christmas trees (£36), LED lights (£20), Garlands (£16) and a 6 pack box of Christmas crackers (£14).

How much could Christmas cost in 2022?

With the IMF predicting that the inflation rate could increase to 2.62% in 2022, analysts at Finder have predicted the cost of Christmas will rise to a hefty £1,023 per household next year. This amounts to 53% of the estimated monthly household income of £1,926 for 2022 (after tax and pension).

While the UK is expected to shell out a whopping £6.5 billion on both Christmas preparations and gifts this December, rising rates in inflation and household growth could increase overall Christmas spending to almost £7 billion (£6.9 billion) next year.

Commenting on the analysis, Reemul Balla, shopping expert at shopping comparison site finder.com gives their top tips on how to budget during the festive season without going overboard:

It’s easy for your bank account to get caught up in the festive spirit as well as yourself.
To not overspend at Christmas, allocate a budget for food, presents, decorations and any merry extras.

With food, get your essentials early so you aren’t fighting for scraps closer to the big day. If turkey is too expensive, try an alternative like lamb or chicken (oh the horror!). If you’re hosting a big Christmas meal, make it a potluck and have the guests bring a dish along no matter how small.

Reuse what you can when it comes to decorations. There’s no need to chuck out a frayed bit of tinsel or a glitterless bauble. Get the cotton wool out for a snowy addition. That lovely bag you got your bottle of wine in? Keep it, as well as any wrapping paper you can reuse.

Additional tips: Check out vintage stores and charity shops for hidden gems and bag that funky Xmas jumper at a snip. If travelling to see relatives, book your train tickets early and consider getting a railcard to save even more.

For more information on the research, visit here: https://www.finder.com/uk/christmas-shopping-statistics

###

Methodology:

Christmas decoration and food figure: Finder analysts analysed the prices of common Christmas decoration items and foods for the festive period from a list of popular superstores in the UK – Tesco, Waitrose and Aldi included, among others. These prices were then averaged up, with single food items multiplied by 6 to ensure enough for a realistic family dinner for a household of four or more.

Christmas gift figure: This figure was estimated from the results of a UK survey carried out by Finder in November 2021. Finder commissioned Censuswide to carry out a nationally representative survey of adults aged 18+. A total of 2,000 people were questioned throughout Great Britain, with representative quotas for gender, age and region

Predicted Christmas spend for 2022: The current £997 spend is the sum of the decoration and food figure and the gift figure in 2021. Analysts were able to estimate how this figure could rise in the coming year based on predicted inflation and household growth rates, obtained from Statista and ONS data.

Household income figure: The 2021 household income was obtained by applying the average percentage change of 0.8% (taken from ONS data) to the 2020 household income figure, and then again to the resulting 2021 figure for the 2022 estimate. A trusted online salary calculator was used to gain the after tax and pension contribution figures for monthly incomes.

About finder.com/uk

finder.com is a personal finance website, which helps consumers compare products online so they can make better informed decisions. Consumers can visit the website to compare utilities, mortgages, credit cards, insurance products, shopping voucher codes, and so much more before choosing the option that best suits their needs.

Best of all, finder.com is completely free to use. We’re not a bank or insurer, nor are we owned by one, and we are not a product issuer or a credit provider. We’re not affiliated with any one institution or outlet, so it’s genuine advice from a team of experts who care about helping you find better.

finder.com launched in the UK in February 2017 and is privately owned and self-funded by two Australian entrepreneurs – Fred Schebesta and Frank Restuccia – who successfully grew finder.com.au to be Australia’s most visited personal finance website (Source: Experian Hitwise).

Follow us on Twitter for the latest updates or drop us a line to say hi: @findercomuk

For further press information
Matt Mckenna
Head of UK communications
M: +44 747 921 7816
T: +44 20 3828 1338
matt.mckenna@finder.com

Privacy Policy | About finder.com