Christmas.
The season of goodwill of goodwill to all men...but not always the relatives.
Despite this, we are set to spend £400 on Christmas presents this year, according to a survey by Fool.co.uk; that's almost a third of a month's salary for many of us.
Christmas has clearly become a season of excess for many of u as you can see:
- We spend £419 on presents for an average of 10 people
- 1 in 20 people spend more than £1,000 to create the perfect Christmas
- Typically we fork out £27 on each gift for our friends and family, but we don't want them to spend quite as much on us. We would much rather they spend closer to £19.
Really? Who on earth did they survey? Most of like a bit more of a decent amount spent on a present for us don't we?
40% of us believe that Christmas should cost less than £200, and 1 in 20 of us spend more than £1,000 to create the perfect Yuletide. What madness!
But not everyone wants to push the boat out at Christmas as 15% of us reckon it should cost no more than a handful of Brazil nuts and some tangerines to fill our loved ones' stockings!
A further 15% believe that it really is the thought that counts and would happily give homemade presents.
But it seems that men are more cynical as more than half say hunger for consumer goods has eclipsed seasonal goodwill.
People with kids spend around £80 more, and the cost of Christmas seems to fall on the shoulders of mum (as it usually does!).
In fact, women spend an extra 20%, and are more likely to feel harassed by the demands of the festive season than their partners.
But not everyone believes that Christmas is about spending lots of money and that is reason to be cheerful!
1 in 3 of us reckon it is still a time for bringing people together, and 1 in 8 feel that social and financial pressures outweigh the pleasures of Christmas.
Over 40% say the Christmas message has been lost and they just long for a family holiday.
David Kuo, Head of Personal Finance at Fool.co.uk, says:
"Christmas season can be a time of financial pressure for many, especially for people with large families.
"What's more, spending 2% of our annual income on one day's jollies can give our finances a proper stuffing unless we have budgeted for it carefully.
So if you know you like a lavish Christmas, you should start saving long before you shop. And if you must use credit, don't fall into the trap of buying now and paying through the nose for it later.
"Nobody wants to be seen as Ebenezer Scrooge. But without proper budgeting January could be haunted by the ghost of Christmas past with credit providers tucking into our leftovers with some relish."
So, Christmas can be costly for many of us, but only if we choose to make it so.
How much do you think you have to spend to ensure you have a Happy Christmas?
Why not let us know in the comments?
© www.fool.co.uk 2007