New research shows we’ll each spend over £200 less at Christmas this year.
An average of £52.40 less on food, £61.80 less on socialising, £41 less on decorations and £76.20 less on presents.
Times are tight. But maybe this year’s less could go a lot further.
Money can’t buy happiness (can it?)
Budgets are lean, but evidence shows gifting pays back in other ways, regardless of size.
Research indicates that our happiness levels increase when we give to others. It’s our DNA. Humans are pack animals who instinctively want to build and nurture a community. Gifting to others touches our instinct to connect and strengthen the collective whole.
As University of California psychology professor Sonja Lyubomirsky concluded after a widespread gifting study:
“When people give gifts, it activates regions of the brain associated with pleasure, social connection, and trust, creating a warm glow effect.”
Give it away to get it
The world’s uncertain, people need support and there’s a lot of angst out there. Also, as we’ll read next, charity donations are way down.
So perhaps this festive season we can three-birds-one-stone it. Give a little to feel a lot.
Charity donations are the obvious way to help others, but it doesn’t start and stop there.
There are dozens of other ways to give a little, from donating blood to volunteering your time (especially welcome at Christmas) and simply passing on unwanted items.
On unwanted items, did you know that eBay for Charity lets you sell goods and donate some or all of the proceeds?
You can also take advantage of gift aid and other tax advantages to double down on the feel good factor.
The serious side
Perhaps urging you to give it away this Christmas seems obvious. Condescending even, at least initially.
But there’s an unfortunate truth in play.
Through the pandemic and beyond, people in the UK have donated considerably less to charity, continuing a downwards trend that’s lasted for five or six years now.
With the cost-of-living crisis squeezing hard people need more support than ever at a time when 12% of regular charity-givers say they’re going to have to cut back.
With deficits in donations and festive cheer, a little can go a long way this Christmas.
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