For a large number of people, the joy that is meant to accompany the festive season is dampened by the financial strain it places on them, a new survey shows.
The Maltese spend an average of €500 over the Christmas and New Year’s period, with more than half of that amount going to gifts, a survey carried out by Misco for The Sunday Times of Malta has found.
However, most respondents view this level of spending as a strain on their finances.
Asked to what extent Christmas represented a financial burden, more than half said it was somewhat of a burden and nearly a fifth described it as a great one.
Another fifth said it was only a small strain, but it was only just under one in 10 respondents who said it was no burden at all.
And for some, Christmas is a truly bad time when it comes to the demands on their pockets – five per cent of the respondents admitted to having to borrow money to keep up with their festive season outlay.
How much money do they spend on gifts, decorations, eating out, going to parties and other Christmastide activities, respondents were asked.
Just over a third – the largest proportion – put their spending at between €300 and €600 on a typical Christmas and just under a third at between €100 and €300. Only six per cent said they spent less than €100 in all.
Three per cent admit to being big spenders, splashing out on more than €1,000 worth of presents for their relatives, friends and colleagues
But at the other end of the scale, a fifth said they stump up between €600 and €1,000 and nearly one in 10 estimated they fork out more than €1,000.
Santa would be quite pleased with the results too. Nearly seven in 10 said they spent most of their Yuletide budget on presents, while eating out took the lion’s share of the rest of the spending.
On average, the Maltese spend about €300 on gifts alone, although three per cent admit to being big spenders, splashing out on more than €1,000 worth of presents for their relatives, friends and colleagues.
On the other hand, one-quarter of respondents keep their gift spending down to between €100 and €200, and 14 per cent to an even more reasonable €100 or less.
What is the biggest amount they have ever spent on a single Christmas present? Nearly five per cent have really splurged on that special someone in their lives, putting the figure at more than €1,000.
But more than half of the respondents could only afford to be much less generous, spending under €200 on a single gift. A quarter could stretch their purse strings to no more than €100 on any one person. The survey did not explore lower figures.
No presents for guessing who benefitted most from the gift giving: children took 45 per cent of the number ones from respondents, with spouses, partners, boyfriends or girlfriends coming in second at a mere 28 per cent.
At least there’s joy in receiving.
This survey was conducted online by MISCO International Limited using its research panel of 401 respondents. The data was weighted to adjust the results to bring them more in line with what is known about the population.
The age groups were: 16-24 years, 25-34 years, 35-44 years, 45-54 years, 55-64 years and 65 years and over, from across the range of socioeconomic categories and education levels. The regions used were those listed in the Demographic Review of 2013, namely: Northern, Northern Harbour, Southern Harbour, South Eastern, Western and Gozo and Comino.
70 per cent have got presents they “dislike or find useless”.Think before you give
More than two-thirds of all respondents to the Misco Christmas survey – 70 per cent – said they have received presents they “dislike or find completely useless”.
Fifteen per cent turn out to be rather hard to please, with at least half their gifts not quite up to their tastes or needs. And two per cent are veritable Grinches – they dislike or find useless most of the presents they receive.
Thankfully, the vast majority are a far more grateful bunch, with 217 of the 401 respondents only having to suppress a frown or a scowl upon opening “very few” of their Christmas presents.
Is it surprising, though, that given the financial burden and the dissatisfaction with many gifts, more than half the respondents sometimes recycle their gifts by giving them to other people? Nearly four per cent do this “often”.
On the other hand, nearly four in 10 said they have never done such a thing.
Perhaps they just have more thoughtful relatives and friends.
How do you compare?
Average spend over Christmas and New Year - €500
Average spent on gifts alone - €300
Biggest ever amount spent on a single gift on average - €260