One in five Brits are planning to spend more money this Christmas

New research has revealed that one in five Brits plan to splash the cash more on Christmas gifts this festive season than they did last year.  

• The average Brit will spend £345.35 this festive season
• Women will splurge more than men
• 18 to 24-year-olds are more likely to spend more compared to last year than any other age group

A survey from MyVoucherCodes revealed that the average Brit will spend £345.35 this Christmas. The data also revealed that men’s purses will be tighter than women’s when it comes to buying Christmas pressies with the average spend for men at £326 compared to women’s £362.

According to the figures, the most generous age group for spending this year will be those aged between 35-44 who plan to spend £382 on loved ones. Shoppers in the North East will be the highest spenders with a Christmas shopping budget of £405.65, while those living in the East Midlands will keep costs down with a potential bill of £296.40

The survey, which asked 2000 participants about their spending habits when it comes to Christmas, also found that one in five shoppers will spend £50 - £100 more than they did last year.

Sarah-Jane Outten, shopping expert at MyVoucherCodes commented on the findings: She said: “It’s interesting to see that when it comes to Christmas this year people are willing to dig a little deeper when it comes to buying gifts. It can be a particularly tricky time for those trying to make ends meet but the appetite for spending is clearly still there.  

Here are some tips on how to save money this festive season: 

Stay organised and keep track of gift-buying, especially in a way that helps to save money. 

Organisation is almost always the key to saving money and Christmas is no exception. Making a simple list with pen and paper is a personal go-to for me as the action of writing helps me retain the info. However, if you love using tech, there are plenty of free apps available that you can use such as Christmas Gift List.  

Use discount and voucher sites. 

Regular users of voucher codes save hundreds of pounds every year. It’s always worth checking to see if a voucher can bring the cost of your basket down. MyVoucherCodes has hundreds of codes from a plethora of retailers.  

Head to your local charity shop. 

Your local charity shops are a treasure trove of bargains. From trinkets to clothing, you can often find brand-new items with tags at a fraction of the cost. This thrifty way of shopping is growing in popularity due to its sustainability and low cost. And you get to feel good about every purchase you make as you are giving back to charity. It’s a win-win way of bringing joy this Christmas.