According to NimbleFins analysis of debt data from the Bank of England and population data from the Office for National Statistics (ONS), average UK household consumer debt (including personal loans and credit cards, but excluding mortgages) reached approximately £8,304 at the end of 2025. To avoid adding to their household debt, many families are looking for ways to avoid further borrowing during the next holiday season.

One of the best ways to have a debt-free Christmas is to save money ahead of time. The earlier you start, the more you can save. Even so, starting to save in the autumn can still help you pay for gifts, food, drink and other expenses so that you don't start the new year with more debt. If you can't find the money from your regular income, there are many creative ways to earn extra money so you can give your family the Christmas you desire.

How Much Should You Save for Christmas?

Every household will have different spending priorities and goals for Christmas, but regardless of the amount you will spend (and why), it is useful to pre-plan and set a concrete savings goal for the upcoming year. NimbleFins analysed retail spending data from the Office for National Statistics to estimate that the average amount spent by a UK household at Christmas was £780 in 2025. For 2026, this figure could climb toward £1,000 or more as inflation continues to impact the cost of gifts, food, and travel.

Why It's Important to Save Ahead

As of May 2026, Bank of England data (series: IUMCCTL) showed the average representative credit card interest rate (APR) in the UK reached a 30-year high of 24.69%, making it critical to save rather than borrow for festive costs.

Save Money Each Week for a Debt-Free Christmas

The earlier you start to save in the year for Christmas, the more you could set aside for Christmas gifts, food and drink, decorations and other expenses related to providing your family with a festive holiday season. That said, even those starting later in the year can still sock away a nice pot of money for Christmas. Our tables and charts below show how much you could save whether you start on 1 January, 1 November - or any month in between.

For example, saving £10 a week from January could result in over £500 set aside by Christmas, based on consistent weekly contributions; saving £20 each week from July could produce a similar amount.

These figures are illustrative examples only, based on saving the stated weekly amount consistently from the start date shown, with no interest assumed on savings. Actual amounts saved will depend on individual circumstances, including consistency of contributions.

Christmas Budget by Month You Start Saving

Christmas money if you start saving in January

Christmas money if you start saving in February

Christmas money if you start saving in March

Christmas money if you start saving in April

Christmas money if you start saving in May

Christmas money if you start saving in June

Christmas money if you start saving in July

Christmas money if you start saving in August

Christmas money if you start saving in September

Christmas money if you start saving in October

Christmas money if you start saving in November

Methodology note: Figures are derived from Bank of England lending data and ONS population estimates. All figures represent national averages and are illustrative of broad trends only — individual debt levels will vary considerably depending on personal circumstances. Where figures are described as estimates, they are based on NimbleFins analysis and are not directly published statistics. Historical data reflects measured values; any reference to trends or projections should not be read as a forecast of individual outcomes. Here are the Bank of England data series used:

• LPMB4TS: Monthly amounts outstanding of total sterling consumer credit lending (excluding credit cards and student loans) to individuals (in sterling millions) seasonally adjusted

• LPMVZRJ: Monthly amounts outstanding of total sterling net credit card lending to individuals (in sterling millions) not seasonally adjusted