Brits intend to spend £1,484 each this festive season, according to annual research from American Express.
The firm found £75.5 billion will be spent across the nation this year to celebrate Christmas.
Those who intend to embark on the full gamut of yuletide activities are spending the most on visits to Lapland and Christmas markets outside the UK (£386) followed by gifts for loved ones (£315). The yearly study reveals Britons’ total seasonal bill will be just £6 less this year compared to 2015.
47% of shoppers will be saving up rewards points to help with their festive fund, which allows them to save an average of £65.
The top 10 costs of Christmas:
| Brits’ Christmas wish list | £ | |
| 1 | Christmas getaways outside the UK | £386 |
| 2 | Gifts | £315 |
| 3 | Christmas getaways in the UK | £201 |
| 4 | Hosting parties (e.g. food, drink) | £104 |
| 5 | Christmas gatherings with friends and family outside the home | £93 |
| 6 | Festive experiences (e.g. pantomime tickets, ice skating) | £91 |
| 7 | New clothes | £87 |
| 8 | Christmas day food shopping | £81 |
| 9 | Travel | £76 |
| 10 | Christmas decorations for your home | £50 |
When it comes to funding the festivities, setting a Christmas budget is not top of the list for some. 22% haven’t yet thought of the steps they will take to make the most of their money this Christmas, and nearly 28% don’t have a Christmas budget at all.
Sarah Willingham, American Express Ambassador, said: “While Christmas shopping can come with a large price tag for some, it’s important to get your finances sorted as soon as you can. Start planning now so you can spread the cost of Christmas as much as possible, that way you can keep an eye on the budget and see where your money is being spent. By keeping control of costs, you can focus on spending more quality time with your loved ones during the festive season.”