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The real cost of Christmas

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The real cost of Christmas

There are many reasons why Christmas is so special to many people across the country. It’s a time where you can connect with family members, share stories, food and gifts. There can be weeks’ worth of preparation for the big day, which can include many hours of shopping to buy the perfect presents and decorations. All I have written above has in common: everything costs money, and the chances are you will be spending a lot of it in the winter months to prepare for Christmas day. So, how much money do we spend in the United Kingdom for Christmas? And what are some techniques you can use to enjoy the day whilst also saving yourself some money?

A recent poll by YouGov learnt that the average person in the United Kingdom would spend £1116 at Christmas time. This enormous amount reflects just how successful Christmas is as a holiday industry. It should not be surprising that a significant percentage of the £1116 is spent only on gifts, at £381.60. Then, a large amount is spent on food and drinks, which will be restaurant visits, takeaway orders and the Christmas meal itself. The total for this area is £159.90. A further £197.20 is spent on hotel stays during the Christmas period, which could be for romantic city breaks or a family holiday in a cozy lodge.

Christmas is of course also a massive boost to the economy, with almost all retailers taking on extra staff during the festive months. Marks and Spencer took on a whopping 14,000 seasonal employees in 2016, which greatly demonstrates the increased demand for products and services across the country. Although great for the economy, the extra demand for products creates a negative impact on what is wasted at Christmas. If all the wrapping paper that is thrown out by the British public was laid out flat, it could stretch to the moon. You can imagine the enormous amount of wrapping paper that is thrown away globally.

So, what tips and tricks can use to lower the Christmas bill, and also help the environment at the same time? To get started, you should not plan for the perfect Christmas, you should first start by calculating what you can spend, and then create a budget. Once decided, get online and find the best discounts available. This is so simple because there are countless websites out there that monitor sales across the internet, letting you know when to buy, or when to wait. If you are not financially prepared for the Christmas season, then think about not spending any money at all. It is much more important to be financially stable for the New Year rather than having one spectacular Christmas day. Then, the simplest way to take care of the environment this Christmas would be to take advantage of purchasing used products. Countless charity shops across the country would benefit from you supporting their cause. Also, Facebook has its marketplace, which means you could find the perfect gift you have been looking for almost new, but with a great discount

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Saffron Invoice Finance is part of FCA regulated Saffron Asset Finance. 

It specialises in offering securitised working cash injections to viable SMEs businesses. Invoice Finance enables you to release the cash tied up in outstanding customer invoices, so you don’t have to wait weeks or months for payment.

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