Even just considering buying decorations and food, Brits are expected to splash out an average of £695 this December, research from Very finds.
In London, this rises to £930 on average, followed by £800 in Northern Ireland and £769 in the North East of England.
It’s no wonder so many households turn to buy now, pay later (BNPL) schemes or opt for second-hand gifts for loved ones to fund this time of year.
But while the average price of a pint or glass of wine in pubs hovers around £5, hitting the town a few times in the month can end up costing the same as a return flight to New York to see the Christmas tree at the Rockefeller Center.
So, to end the year knowing you’ve not been anti-social and made a fair amount of effort seeing your friends and family without destroying your finances, Maxine McCreadie from UK Debt Expert has provided some tips.
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Here are five ways to socialise this Christmas without breaking the bank.
1. Host a ‘bring your own’ festive feast
Hosting a Christmas gathering doesn’t have to mean footing the entire bill yourself. McCreadie recommends turning your festive dinner or party into a collaborative feast by asking guests to bring a dish each. Not only does this help save money, but it also creates a unique and varied spread while easing the pressure on the host.
She said: “For a festive twist, assign categories like desserts or finger foods – it’s a simple way to keep costs down and still enjoy a table full of delicious treats.”
2. Embrace ‘free fun’ with festive walks and movie nights
Skip the pricey nights out and opt for cosy, budget-friendly alternatives instead. A winter walk with friends, wrapped up against the chill and ending with steaming mugs of hot chocolate or mulled wine at home, can be just as magical as a night on the town. For something even simpler, host a Christmas movie marathon in your living room – snacks are optional but always welcome.
3. Ditch the pub – do Secret Santa socials instead
Instead of splurging on expensive dinners or rounds of drinks, why not host a budget-friendly Secret Santa night at home? Maxine suggests setting a small spending limit, exchanging thoughtful gifts, and enjoying a relaxed evening filled with laughter – all without the burden of high costs.
McCreadie said: “It’s a win-win – you get a meaningful gift and a memorable night with loved ones, minus the hefty price tag.”
4. Get thrifty with Christmas jumpers
Christmas jumper parties are a festive favourite, but there’s no need to spend a fortune on a brand-new knit. Instead, check out second-hand platforms like Vinted or Depop for unique, pre-loved options at a fraction of the price. Not only can you save money, you might also uncover a one-of-a-kind find that stands out from the crowd.
“You can even swap jumpers with friends or try your hand at DIY with leftover craft supplies. It’s a creative, budget-friendly way to join the fun and make your jumper truly unique”, McCreadie said.
5. Repurpose Christmas dinner for Boxing Day get-togethers
Make your Christmas dinner stretch further by using leftovers for a festive Boxing Day meal. Freeze extra portions of turkey, stuffing, or even vegetables to save time and money on the next gathering. Not only does this reduce food waste, but it also makes hosting more affordable by spreading out the cost of your holiday meals.
