Jingle Jingle All The Way

But will there be any money left in peoples pockets to Jingle? With Christmas looming around the corner a great number of people will start to struggle to make their regular debt payments.

With households spending 29% more than usual this has a ongoing impact across both businesses and individuals.

A typical household in the UK spends just over £2,500 in a month. But in the run up to Christmas our spending habits change. We spend on average almost £740 more in December, which is 29% more than in a typical month. What do we spend it on? As you can see from the chart, our spending on items -which normally make up only a small amount of our shopping - increases in December: Spending on video and music equipment and books grows the most, with book sales doubling in December. Spending on food and alcohol also increases, going up by an average of 20% and 38% respectively. Conversely, our spending on goods such as paints and hardware goes down by 21%, as we delay these jobs until after Christmas.

https://www.bankofengland.co.uk/knowledgebank/how-much-do-we-spend-at-christmas