Liverpudlians are ‘spending’ a whopping £119 per person on Christmas gifts this year, as research today reveals the true cost of friends and family during the festive season.
The findings, released by group payment and personal fundraising platform, Leetchi.com, reveal that Brits nationwide spend an average of £112 on Christmas presents per person on friends and family.
People in Newcastle are the top spenders in the UK, spending an average of £140 per friend or family member on Christmas presents. The second most generous city is Plymouth, spending an average of £134 per person, closely followed by Birmingham at £131.
The Socialite Tax takes its ‘toll’: However, it’s not just Christmas where Brits are splashing out on their nearest and dearest. With the end of the year approaching, it’s time for a reality check on the price you pay for being sociable. The findings reveal that Brits spend an average of £72,183 and attend 891 events such as birthdays, hen and stag dos, birthdays, weddings and baby showers in a lifetime.
The UK Capital proved to have the most generous spenders on family and friends, the average Londoner will spend a huge £86,678 in a lifetime, averaging at £94 per friend or family member. People from Leicester are however the least likely to fork out for their friends and family, spending only £37,492 in a lifetime, an average of £48 for each friend or family member.
Liverpool ranks at number 9 on the list, attending 802 events and spending £57,874 on friends and family over a lifetime.
The Socialite Tax doesn’t just come with a hefty price tag, the research showed it’s also affecting Liverpool’s mental health as 37% feel stressed because they can’t afford to pay for the increasing number of nights out, dinners and presents for their friends and family, this is compared to the national average of 42%.
More than 1 in 3 (34%) Liverpudlians believe social media and apps such as WhatsApp, are behind the increasing amount of events and celebrations they have to attend each year.
Céline Lazorthes, CEO and founder of the Leetchi.com, commented on the findings: ”It’s eye-opening to see the financial strain that Christmas and our social lives can have on us. If you factor in the spontaneous drinks with colleagues or an impromptu dinner with friends, I’m sure that you’ll see the costs that Liverpool pays double.”
“The research revealed that half of Liverpudlians (58%) would prefer to pool money together so they can buy bigger and more meaningful gifts for their friends and family. Leetchi.com is providing an easy way to do just that, and taking the financial stress away so you can give gifts that people love, without compromise.”