Nation Set To Spend More This Festive Season

The UK is set for a bumper festive season as the average Brit is expecting to spend over a third (35%) more on Christmas this year than they did last yeari, according to research from global information and insights provider TransUnion. 

The data revealed that the nation is planning to splash out an average of £575 per person this year, up £148 on last year’s Christmas. The biggest spenders are those aged 35 to 44 whose average spend will increase to £683 this Christmas, whereas people aged over 65 will allocate £501 on average.   

Across the country, those in Northern Ireland are planning to spend the most, at an average of £772 planned, topping even London at £765, whereas people in the South East have set a more conservative budget of £449 per person.  

Kelli Fielding, TransUnion’s managing director of consumer interactive in the UK comments: “It’s no wonder that so many people have planned a bit of a splurge this year to celebrate the festive season with loved ones, and it’s positive to see the uplift in spend from last year. However, with the constantly changing situation it’s not surprising that just under a fifth (17%) are approaching the season with caution and will have a smaller celebration as concerns about COVID-19 remain and fresh restrictions loom.” 

Christmas shopping will be paid by debit card for the majority (42%) with close to a third (29%) of adults using savings accumulated over previous lockdowns. However, credit cards (31%), overdrafts (11%) and buy now pay later finance (11%) will all be helping to spread costs.   

Plus, despite talk of supply chain issues in the UK, more than a quarter (27%) are happy to replace festive food items for alternatives if needed, swapping turkey for beef, sprouts for cabbage or pigs in blankets for chipolatas.   

Kelli Fielding continues: “Whatever the size and scale of your festivities, keep a track on your budget and if you need to utilise credit to defer payments, make sure you’re thinking ahead and have an affordable repayment plan when January comes.”  

Five financial New Year resolutions for 2022   

  • Check your credit report more often: Checking your credit report and score regularly is an essential part of monitoring and managing your finances. It also means you can ensure the information held on your report is accurate, or get any errors corrected.  


  • Use free eligibility checkers to see if you will be accepted for credit before applying: If you apply for a credit card or loan it leaves a footprint on your credit file, potentially affecting your ability to get future credit.  It’s better to use a free eligibility checker which uses a ‘soft search’ to calculate your likelihood of being accepted. A soft search won’t impact your credit score.  


  • Disassociate yourself from previous financial partners by closing joint accounts and mortgages: If you’ve shared finances with somebody in the past, they might show up on your credit record. If you don’t want this to happen, you can apply for a notice of disassociation.  This will be important if your ex-partner has lots of debt, or they’re late paying bills.  


  • Pay your bills on time each month: Payment history is an important factor in your credit report, so paying your balance on time or early each month will help maintain your credit score, whilst also avoiding interest charges or fees. Make sure you cover the minimum payment but ideally pay more if you can.  


  • Get your name on the electoral register: Making sure you are on the electoral register is essential for building a strong credit score. as it helps lenders to confirm that you are who you say you are.  


To check your TransUnion credit score and report for free visit Credit Karma, MoneySuperMarket, or TotallyMoney