People are willing to spend around £725 in total over the festive period, a study has found.
We shell out around £363 on Christmas presents for our relatives alone, it is said.
The rest goes on more shopping, partying with work colleagues and preparing for the festivities on 25 December.
The Nationwide Building Society grilled 2,000 people on their Christmas spending habits last year - and it produced some surprise answers.
Splashing out on children, partners and parents increased in 2019.
The total of nearly £750 each on average amounts to approximately two weeks’ worth of a person's salary in accordance with the average UK wages, the National Building Society states.
But that total may not be as high this time around, experts predict, thanks to the devastating impact of the pandemic.
Those who took part in the survey predicted they would spend £67 per child every Christmas.
Some 28 per cent planned on spending more than £100 per child.
Four per cent admitted they didn't buy anything for their other half.
The average spend on a partner was discovered to be around £63 - but some held their hands up to spending up to £300.
But one in 12 people planned on splashing more than £800 on presents for their relatives.
The Money Advice Service has put forward some superb tips to save a little Christmas cash.
Here are its top four tips for keeping finances in check.
Step 1 – Set a budget
Step 2 – Work out how much to save each month
Step 3 – Consider starting some new Christmas traditions
Step 4 – Decide where to put your Christmas savings
Its website says: "It’s difficult to pay for Christmas out of December’s pay packet alone, so it makes sense to save up as much as you can beforehand.
"The earlier you start saving, the less you need to put aside each month. Even a small amount over a few months can make a big difference.
"Borrowing money to cover your Christmas spend could come at a price in interest and fees.
"At best, that could be money used for something far more worthwhile - at worst, it could leave you with debt you might struggle to pay off.
"Christmas savings clubs won’t offer you interest on your savings and come with a greater risk than saving through your bank or building society."