Christmas is the time to celebrate joy, togetherness, and a range of festive delights, so it’s no wonder that it is undoubtedly a cherished occasion for many.
However, in recent years, the cost of living has been climbing, and Christmases have become more expensive as a result.
In fact, the BBC reveals that Christmas dinner was nearly 22% more expensive in 2022 compared to 2021, and these costs could climb even more this year.
But how much does Christmas cost exactly? Continue reading to discover how much you may end up paying for several different festive scenarios this year so you can plan your dream Christmas.
The cost of Christmas will depend on how you celebrate
Before you consider the average cost of Christmas, it’s important to remember that the big day doesn’t look the same for everyone. While some families may stay at home, others may decide to get away from it all and go on holiday.
With this in mind, read on to discover the average cost of several different Christmases.
Staying at home with your immediate family
Perhaps the archetypical Christmas involves staying home with your immediate family, sharing gifts with your loved ones, and indulging in a feast when the time comes. After dinner, when everyone is brimming with delicious Christmas delights, you may play a board game, or simply settle in for a night of Christmas movies.
While you may initially think that this could be a cheaper alternative to Christmas because you won’t be travelling anywhere or spending money on a meal in a restaurant, this may not be the case.
Indeed, YouGov found that, even if you simply have your immediate family at your home for a day of festivities, presents and gifts would likely be the most expensive part, and you could spend somewhere around £300.
Of course, presents aren’t the only expense you’ll likely incur – you also need to provide a lavish dinner for your family members.
Nisbets reveals that the average cost of a Christmas dinner for two adults and three children alone is around £135, or £27 for each person. You may even have your parents or some other loved ones attending your dinner that you’d consider your immediate family, so this figure may rise somewhat.
So, imagine you have seven people over for dinner; this would cost around £189. Total in the average cost of presents – around £300 – and you could end up paying an average of £489 on the festive day.
Of course, this figure is only a rough estimate – you may decide to spend slightly more on presents, especially if your child desires a new gaming console or has an expensive hobby. Though, this figure should give you a rough idea of how much a Christmas at home with your immediate family could cost.
Hosting everyone at your home for a lavish dinner
With Christmas being such an important day for many, you may feel the need to host many of your friends and family at your home. By doing so, you could enjoy a day filled with socialising and merriment, and of course, you could show off your cooking skills while you’re at it.
However, while this may appeal to you, it’s important to remember that this will likely be much more expensive than simply having your immediate family round for dinner.
Take the average cost of Christmas dinner, as revealed by Nisbets above. If it costs roughly £135 for five people – or £27 for each person – you may end up spending at least £270 or more on food alone if you host 10 people.
Also, these figures only account for one bottle of prosecco between five, too, and there’s a good chance you’ll end up drinking more than that on Christmas.
So, assuming that you host 10 people, and need to buy an extra three bottles of prosecco, you may end up spending around £310 on food and beverages.
Of course, you could always splash out and purchase champagne if you really want to impress your guests, but this will increase costs considerably.
Additionally, you will still need to buy presents for your loved ones, which, as mentioned above, could cost around £300.
As such, hosting everyone at your home for a lavish dinner party over Christmas could cost around £610.
Going out for dinner
Sometimes, the thought of all the work required to prepare and cook a grand meal for your loved ones can seem like too much hassle. You typically need to wake up early, peel the sprouts, get the house ready, and that’s not to mention the amount of washing up and cleaning you’ll likely need to do the next day.
So, rather than staying at home, you may want to go out for dinner instead. This could certainly reduce costs, as you won’t need to buy food from the supermarket for your family and friends.
In fact, the aforementioned data from Nisbets found that the average cost for a three-course meal for a family of five in gastro pubs across the UK, excluding London, was around £164.
For an extra £30, you’re given more choice in food, you can relax knowing that you don’t have to arrange and oversee a Christmas party, and you’ll have much less cleaning to do.
Again, even though you’re going out for dinner, you’ll likely still need to spend around £300 on average for presents, bringing the total cost up to roughly £464.
Travelling for Christmas
Travelling during the festive period is a fantastic way to leave the hustle and bustle of Christmas behind you. Better yet, if you wish to escape the cold weather and soak up some sun for Christmas, you could always travel abroad to a warmer country.
However, it’s important to remember that travelling – especially during the Christmas period – can be expensive.
Indeed, a survey reported by the Independent reveals that the average spend for a trip abroad before Christmas is £2,427. On top of this, 30% of respondents stated that they intend to spend £3,000 while abroad over the festive period, and an additional 7% believe they’ll spend as much as £5,000.
It may be wise to plan for additional expenses while you’re abroad, as costs tend to rise in popular tourist destinations over Christmas due to increased footfall and business.
Of course, the cost of your holiday will vary depending on the location, how long you plan to stay there, and how much you spend while you’re there.
As well as the £2,427 holiday costs, you’ll likely still need to buy presents for your loved ones. So, using the average costs noted above, it could cost you around £2,727, though you could end up spending more on food and drink costs while you’re abroad.
Get in touch
If you’d like some help planning your money so you can stop worrying about your finances and start focusing on a luxurious Christmas, get in touch with us today.
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