Top 30 ways Brits plan to scale back their Christmas celebrations this year

20 December 2023 , 12:26

403 0

Brits have shared the top 30 ways they plan to scale back their Christmas celebrations this year – including setting a spending limit, and reusing old decorations and ornaments.

Other popular ways of cutting back include putting up an artificial tree, re-gifting unwanted gifts, and inviting fewer relatives round for the big day.

Meanwhile, one in five will be setting a “present limit” per person – with 24% not buying gifts for anyone outside of their immediate family.

And 18% are not planning to send Christmas cards this year – while half will try to make their money go further when shopping for the Christmas dinner, by buying their ingredients at a budget supermarket.

In fact, when it comes to their meal on the big day, one in 10 will be downsizing their turkey, while 8% will be opting for a cheaper alternative to the festive bird. And 12% will even sacrifice Christmas crackers with their meal on December 25.

Shop prices 'are yet to peak and will remain high' as inflation hits new heights

It comes as over half (51%), of the 2,000 adults surveyed, who celebrate Yuletide, are making an effort to cut their festive budget this year.

But they don't want to compromise on too much – with 23% flatly refusing to sacrifice the quality of their Christmas dinner, and a further 21% saying they will not give up any meat or veg in their bid to make a saving.

Reusing old decorations is the top way Brits plan to cut back this Christmas (Yulia Naumenko/Getty Images)

The research was commissioned by Skipton Building Society, whose head of savings, Alex Sitaras, said: “For many, it’s been a year of being really cautious with cash, and there’s no getting away from the fact that Christmas is often the most expensive time of the year.

“This data shows that people are more conscious than ever before about how much they’re spending this festive season.

“Christmas is about spending time with your nearest and dearest, rather than spending money – and there’s no doubt that there’s cash to be saved, without having to compromise too much on what your big day looks like.

“A downsized Christmas could be the answer if you’re looking to spend less, and get your 2024 off to a positive start.”

The study found 72% are worried about affording the cost of the season this year, at least to some degree. Meanwhile, eight in 10 (81%) say it doesn’t matter what their festive budget is, as long as they’re with their loved ones. However, more than a third (35%) admit to finding it hard to cut back on their Christmas spending.

In a typical year, adults who celebrate the holiday will spend £550 each on average, on presents, socialising, decorating, and other associated costs. But for Christmas 2023, this figure is set to drop to £476 per person, on average – a reduction of 13%.

Just over six in 10 (61%) also believe they’ll have to dip into savings to pay for Christmas this year. However, a third (33%) confess they’re actually looking forward to a more scaled-down celebration, according to the OnePoll.com figures.

Looking into the new year, 66% are feeling hopeful for the year ahead, with 68% planning to look at the ways they can save money in 2024. These include scouting for the best savings rates, selling unwanted items, and using banking apps to monitor spending.

Banksy's artwork has been removed in cities all over the world - see which ones

Alex Sitaras, Skipton Building Society’s Savings chief, added: “The value of saving money in 2024 goes beyond simple financial prudence.

“It’s an investment in peace of mind, providing a safety net that allows us to focus on our aspiration, knowing we have a solid foundation beneath us. And if that starts with a cut-back Christmas in 2023, then any finance expert will tell you it’s a smart first step to take.”

TOP 30 WAYS BRITS PLAN TO HAVE A DOWNSIZED CHRISTMAS:

Reusing old decorations
Setting a spending limit
Not buying presents for anyone outside of immediate family
Using an artificial tree
Setting a present limit per person
Not sending cards
Only buying food people will eat – e.g. not buying sprouts if no-one likes them
Buying fewer/less expensive presents for the kids
Only buying gifts for the children in the family
Forgoing Christmas crackers
Re-gifting unwanted gifts
Only giving out cards to people they see in person, to save on stamps
Buying frozen meat or veg, instead of fresh
Limiting the amount of travelling done
Reducing the amount of food served on Christmas Day
Buying a smaller turkey
Buying gifts from local shops
Buying a cheaper alternative to turkey
Inviting fewer people to the Christmas dinner
Inviting fewer relatives round in general
Only switching on the Christmas lights for an hour a day, to save energy
Walking to see the local lights on people’s houses, rather than paying to see light displays e.g. at Longleat or the National Trust
Not putting up a tree or any decorations at all
Organising a family Secret Santa, to cut down on presents
Getting a smaller tree
Stop doing Christmas Eve boxes
Making your own decorations
Having an alcohol-free Christmas
Not inviting the in-laws
Not taking the kids to see Santa