Christmas comes but once a year and for most of us, the festive season is a time where we can get together, watch terrible TV and eat our body weight in Quality Street.
However, it certainly isn’t cheap and with the nagging financial gloom making everyone more careful, big occasions like Christmas can feel less like a holiday and more like a burden. After much discussion in MyFamilyClub HQ, we decided to get your thoughts on Christmas spending and we were surprised by some of the results.
Although we all know that making and sticking to a budget is one of the best ways to save, it seems that only 47% of you have taken that mantra to heart and squirreled away a Christmas spending fund.
We then decided to be a bit more nosey and find out just where all your Christmas moolah will be going. The biggest expenditure by far for most of you was Christmas presents. In fact, 48% of you splash out a mega £250 on yuletide gifts for friends and family but reserve £50 for your main Christmas present.
The next biggest spend was on travel costs which saw 32% of you forking out £100-£250 on train journeys, cab fares and of course, fuel. Surprisingly, over half of you spend a quite reasonable £150-£100 on drinks with only 5% of you cheekily admitted to paying out over £250.
40% of you said you budget £50-£100 on party food and on your decorations and tree, with a solid 55% of you generally spending less than £50. Costs began to mount up again with the price of family entertainment which saw 40% paying out between £50-£100 on video games and DVDs and 40% spending between £50-100 on days out with the kids. Finally to the main event and Christmas dinner which saw half of you admit to stocking up on tasty goodies to the tune of £50-£100.
MyFamilyClub Christmas Challenge
Although we love Christmas we know that the costs can really mount up. So we decided to lend a helping hand.
From today (5 November 2012) we’ll be running the MyFamilyClub Christmas Challenge.
Each week we’ll ask you how you save money on a specific yuletide essential and the best tip will win a voucher equalling the average cost of said essential according to our survey results.
In the first week we’ll want to know how you save money on Christmas presents with the best tip winning a £50 Toys ‘R’ Us voucher.
Then we’ll want to know how you save money on Christmas decorations with the best tip winning a £50 B&Q voucher.
Each week will be Christmas themed and the challenge will run for six weeks.
We’ll end by asking for money saving tips on your Christmas dinner and will give away a £100 Morrisons voucher for your trouble.
So keep an eye out each week for what the new theme will be and get your money saving tips in now!