Large majority of readers think we spend far too much at Christmas

The building society's research has found that an average of £727 will be spent on presents, preparations and celebrations. One in 12 people plan to spend more than £800 on Christmas gifts for family. On average, people expect to splurge £363 on gifts for relatives.

So in our Facebook poll we asked: “Do you think people spend too much over the festive period?” At the time of writing almost 200 people had voted with 81% saying yes and just 19% no.

Cass Ashby said: “Two weeks wages to some. Maybe £500 to other people might be a month’s wage; to others a day’s worth.”

Michael Jones said: “Who cares? While it Is still their money to spend, pretty sure they can do what they want with it.”

Chris Batchelor said: “Two weeks, is that it? I spend around a grand on all the presents for my kids and family.”

Richard Abbott-Brailey said: “If they have earned the money and don’t fall into massive debt, it’s up to the individual how they spend their money. Might want to donate some to those less fortunate though.”

Dave Rutherford said: “Eighty-one percent say yes, but they will still do it, lol.”

Tonie Klingström said: “People spend money on Christmas and then don’t have money in the middle of January, with a long time until payday.”