Even though it may not seem it, Christmas is becoming more affordable, says Halifax Unsecured Personal Loans.
Halifax found that the price of traditional Christmas items such as jewellery, socks and woolly jumpers have actually fallen in price over the past twenty years.
Halifax says the price of a Christmas lunch with all the trimmings has fallen by almost a third while woolly jumpers are half as cheap as they were last year.
Ian Corfield, head of Halifax Unsecured Personal Loans, said: "It's nice to see that traditional Christmas spends have become more affordable over the last 20 years, hopefully making the Christmas pound go further."
However, research by Virgin Credit Card says it takes people, on average, three months to pay off Christmas debts.
In total, the country spends £13 billion on Christmas celebrations every year.To read more about Banking News, click here.
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