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Loan charges: Brits to cut down on Christmas dinner spend

Brits are expected to spend around 13 per cent less on Christmas dinner and drinks this year, as concerns over the cost of the festive season mounts.

Research from Santander found that the average spend per adult will drop to £77 this year, compared to £89 last year. A further 13 per cent will do their best to not have to host any Christmas celebrations, leaving more money to cover things like loan charges.

The vast majority (82 per cent) of people will have a family meal at home to celebrate Christmas, but nine per cent (4.5 million people) will go to a pub or restaurant. Another nine per cent will have a less traditional Christmas meal, tucking in to curry, pizza, Chinese or fridge leftovers.

More than half (51 per cent) will only have their immediate family present, while 31 per cent will extend it to other relatives.

"It's easy to forget just how expensive it can be catering for friends and relatives over the Christmas period," said Alan Mathewson, chief executive of Santander Cards.

"People are reining in their spending on everything from presents to their main Christmas dinner and many are even doing their best to avoid hosting altogether."

Amir Hussain

Amir specialises in personal loans, consumer debt and debt management.ADNFCR-2776-ID-801503393-ADNFCR



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