The Christmas season is one of the most beautiful but also the most expensive times of the year. Whether gifts, decorations or banquets — spending quickly piles up. But what role does money really play at Christmas? And how can you better manage the festive costs? We have summarized the most important facts and savings tips.

How much do Germans spend at Christmas?

It's easy to see that Christmas is expensive and expensive as soon as you look at the figures. In 2023, consumers in Germany gave around 86 billion euros during the Christmas season — this corresponds to one of the highest sums worldwide, only surpassed by North America (870 billion euros) and the United Kingdom (99 billion euros).

Most Germans want to dig deep into their pockets again in 2024 if the buying mood continues to be influenced by inflation. So want loud Christmas shopping report by Civey on behalf of eBay Ads 46 percent of Germans spend about the same amount on Christmas gifts as in the previous year, while just under 20 percent want to cut their budget. According to market research institute Appinio, the figure is as high as 37 percent. At the same time, 54 percent of consumers are planning to focus specifically on discount campaigns to save money.

Translated into amounts of money: According to a Deloitte survey, Germans spend an average of 420 euros on Christmas gifts, while another Investigation of FOM determined a higher average value of 533.20 euros. On the other hand, the median value — i.e. the most typical value — is around 400 euros.

Regardless, men dig a bit deeper into their pockets than women in all surveys.

Christmas debt trap: risks for your wallet

For many families, Christmas is not only an emotional challenge, but also a financial one — especially when it comes to giving gifts. According to a study by LifeFinance, more than 3.5 million Germans finance their Christmas gifts on credit. Offers such as interest-free installment purchases are particularly tempting. But experts warn against payment requests that will then come in January and February. Because many don't even have this leeway in their account. Especially because there are often annual contributions for insurance or memberships at the beginning of January. It is therefore important to plan your own spending and to comply with limits.

What do Germans spend their money on?

Germans are particularly generous with their children: 42% of the gift budget is invested here, followed by partners with 40%. The most popular gifts include:

1. vouchers
2. toys
3. books
4. cash
5. outfits
6. cosmetics
7. jewelry

Clever saving tips for the Christmas season

These tips help to ensure that the Christmas season isn't clouded by financial worries:

1. Set and stick to the budget: Plan exactly how much you can spend on gifts and other expenses. Avoid buying on credit to avoid debt traps.
2. Plan early: Last-minute purchases are often expensive. Compare prices and use discount promotions such as Black Friday to find bargains.
3. Second-hand gifts: Second-hand is not only cheaper, but also sustainable. Unique and personal gifts can often be found here. In recent years in particular, the popularity of giving second-hand gifts has increased.
4. Do-it-yourself ideas: Homemade gifts such as baked treats or personalized photo gifts are creative, inexpensive and come from the heart.
5. Organize gifts together or give a secret Santa: Especially when it comes to bigger wishes, it makes sense to team up with family or friends. This saves money and time. Alternatively, you can also give a secret Santa instead of giving everyone something as a present.
6. Avoid unnecessary costs: Small savings add up: Use reusable gift packaging or avoid expensive wrapping paper.

Gifts aren't the only cost

In addition to gifts, other items also weigh on the Christmas budget. Depending on the region, a 1.80 meter Christmas tree costs between 29 and 75 euros in 2024 — a price increase of around 7% compared to the previous year.

Depending on the menu, Christmas dinner can also be an expensive affair. Traditional dishes such as roast, red cabbage and dumplings are popular, but modern vegan alternatives are also gaining in importance. When food increases, you have to dig deeper into your pocket.

Relaxing Christmas through clever planning

In addition to the general Christmas stress of caring for and preparing gifts, financial challenges can also have an impact on our well-being and mental health. It is therefore not only worthwhile to divide up the tasks of Christmas shopping and — to make it fun — combine them with fun activities such as a visit to the Christmas market, but also to plan and stick to realistic budgets for yourself.

With the right tips and good planning, nothing stands in the way of a stress-free and budget-friendly Christmas.

Merry Christmas and good luck saving!

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