But feeling confident with numbers can help when it comes to deciding how much to spend and on what.
It is completely understandable to lack number confidence – millions of people in the UK feel the same, so you are definitely not alone. But it could be costing you when it comes to managing your money during the festive period.
Ionut lacked an understanding of money management, but today says things are “100% more manageable”. Read his story here.
How festive spending can quickly add up
As National Numeracy Ambassador and Money Saving Expert Martin Lewis says, people shouldn’t feel obliged to buy each other gifts, but some spending during the festive season can be difficult to avoid.
According to The YouGov Big Survey on Christmas: The cost of Christmas:
- A third of Britons (33%) say they are typically at least fairly worried about the impact of Christmas on their personal finances, with this rising to 42% among those in households with incomes of under £30,000.
- For parents buying presents for their children, nearly half (45%) are spending up to £100 per child and around half (49%) are spending more.
- Among those buying festive food and drink, the median expected spend is £150, while those who travel for the holidays expect a median bill of £50.
- For those attending seasonal social events, the estimated median price tag is £100, while those going on other Christmas-related outings expect to be forking out £60 for them on average.
It’s easy to see how costs can add up, which is why everyday numeracy skills like budgeting are essential.
