Counting the cost of Christmas


Now the Christmas tree has been taken down and the lights safely packed away for next year, have you had the courage to take a peek at your bank statement?

Research from Park Christmas Savings shows that British families planned to spend less on Christmas this year as the cost of living bites. Yet Christmas 2023 is still estimated to have cost the average family £730 per year, and more than 7 in 10 Brits admit they find Christmas the most stressful time of the year.

On the plus side, the survey confirmed that spending time with family and friends is still the nation’s favourite thing about Christmas. But it comes at a cost. Katherine Scott, director of marketing for Park Christmas Savings, says: ‘Against the backdrop of the ongoing cost of living crisis, many Brits are actively trying to cut down and spend less, but how to do so can be complicated. Many people do get themselves into debt trying to give their families the perfect Christmas.’

Park Christmas Savings – part of the PayPoint Group PLC – is the UK’s biggest Christmas savings club, helping over 350,000 families manage the cost of Christmas since 1967.