Swedes' Christmas Gift Spending This Year

With Christmas around the corner, the Christmas shopping is in full swing and according to a new survey, the Swedish people will spend more this year compared to last year.

Länsförsäkringar’s survey shows that we will spend an average of just over 3,350 SEK this Christmas, which is a slight increase from 3,000 SEK last year.

However, the amount varies significantly depending on the household’s financial situation – those with higher incomes will spend an average of over 5,000 SEK on their Christmas budget, while low-income earners will spend an average of just under 2,000 SEK.

“The increase is due to everything becoming more expensive in recent years, including Christmas gifts. At the same time, the economic disparities are clear as Christmas approaches, and those who can afford to spend more will do so,” says Stefan Westerberg, a private economist at Länsförsäkringar.

Money Flowing

At the same time, one in five people say they spend more money than they can actually afford, and one in three spend more money than they actually want to.

“Families with children are often willing to invest extra in Christmas even though the money may not always be enough. It’s easy to want to buy that toy for your child even if it’s actually too expensive. Try to discuss the situation with your family if you have small margins so that expectations are at a reasonable level,” says Stefan Westerberg.

“Christmas is a wonderful time but it is also economically challenging for many. Set a limit for Christmas gift purchases to reduce the risk of starting next year with financial stress.”