Halifax: Brits cut costs with Christmas gift spending cap
Britons are aiming to cut the costs associated with Christmas by capping spending on presents, according to research by Halifax.
Halifax: Brits cut costs with Christmas gift spending cap
Britons are aiming to cut the costs associated with Christmas by capping spending on presents, according to research by Halifax.
A study by the credit provider suggests the average cap stands at £33.26, with 66 per cent of people agreeing an upper limit intending to spend £25 or less per person.
Consumers in Scotland were the most generous, agreeing to cap their spending on friends and family at £51.68, while people in the south-east went for the smallest amount, with an average of £15.78.
However, it appears not everyone is having to cut back on their spending to a great degree, with 12 per cent stating they have agreed a cap of £100 or more per person.
Mike Regnier, Halifax head of banking, comments: "For many, a sensible spending cap is a great way to cut the cost of Christmas and still manage to buy presents for all our family and friends."
Halifax's credit cards include the All in One and Student cards.
Written by ©
