Wakefield named as one of the 'least generous places at Christmas' in finance firm survey

Christmas is the time of year when spending can go off the charts, and with 89% of Brits celebrating Christmas in some capacity and the average household spending £1,199.31, buying the perfect presents for family and friends is on most people’s mind.

However, for many people, budgeting is an important factor at Christmas to ensure they aren’t swept up in the festive spirit and too much money isn’t spent on novelty things.

Researchers at My Quick Loan, have discovered which UK cities and towns are the most generous during the holiday season and who was spending the least of their money on presents.

The loan company gathered results by analyzing consumer data such as looking into the amount spent on Christmas per capita, the average annual salary per region, the population, and monthly earnings.

When it came to most generous Stoke came top with gift-givers spending 66% of their wage on presents.

Alternatively, those in the capital of London were the least generous spending a third of what those in Stoke do with 22%.

In joint seventh place, Wakefield was on par with the larger cities of Bradford and Birmingham with locals spending 38% of their paycheck on Christmas gifts.

Proportionally, whilst this means locals aren’t spending as much money on Christmas, it’s likely they are saving their income for other expenses.

However, despite making the list, people from the West Yorkshire district still spend over a third of their monthly salary on presents.