"New research from personal finance experts at Confused.com reveals that over half (55%) of Brits are in debt in the New Year following Christmas expenses. This is as the average Brit spent £635 on Christmas last year. Given the large expense, many claim that it's going to set them back financially for a long period of time. Nearly 3 in 10 (29%) think it will take them over a month to financially recover from Christmas 2025."
"On average, Brits take a month to settle their Christmas costs and reset financially for the New Year, with nearly a quarter (22%) taking 3 to 4 weeks to pay off festive debts. With median weekly earnings for full-time employees sitting at £766.60 as of April 2025, it's unsurprising that Brits are tightening their belts entering the New Year to preserve what they can of their salary."
55% of Brits are in debt in the New Year following Christmas, with the average Brit spending £635 on Christmas. Nearly 29% expect recovery to take over a month, and 22% take three to four weeks to pay off festive debts. Median weekly full-time earnings were £766.60 as of April 2025, contributing to tightened budgets. Almost half (45%) feel financially ready for the year, and 33% review finances in January. To manage pressures, 56% use salary and 32% use savings to cover Christmas costs, while 43% save throughout the year for the festive period.
Read at London Business News | Londonlovesbusiness.com
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