Brits Expecting to Spend £526 on Christmas

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Brits Expecting to Spend £526 on Christmas

Brits Expecting to Spend £526 on Christmas

Even in October, it’s already beginning to look a lot like Christmas.

According to a recent survey commissioned by HSBC, the typical person in the UK will spend about £347 on gifts for their immediate family, in addition to £179 on eating, drinking and entertainment this Christmas.

This year’s findings are similar to 2011, when the typical person was estimated to spend about £561 between gifts and entertainment.

“Our research shows that, once again, households want to put financial difficulties to one side and celebrate this special time of the year,” George Charalambous, HSBC head of current accounts, explained.

The survey, which polled more than 2,000 people across Britain, also found that 29 percent of younger people (aged 18 to 24) were fairly confident they would be able to increase their spending for Christmas. Most people, however, admitted they would be careful with their spending, with almost 32 percent planning to use discount vouchers.

For more information on the 2012 HSBC survey or to read Julia Horton’s original article on Scotsman.com, please click here.

 

 

 

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Darwin is an engineer and MBA who takes an "evolutionary" approach to finance, writing about adapting to evolving financial management, tax, investing and savings opportunities. Making more money and saving more money is an adaptive process — join the evolution! He blogs at Darwin's Money www.darwinsmoney.com and ETF Base www.etfbase.com

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