THE average person in the UK will take five months to pay off debt run up due to Christmas, according to a survey.

One in 10 will take a year or more, meaning that they are going into this year’s festivities with 2016’s debt still hanging over them.

Despite this, nearly a third intend to spend Christmas Day shopping online, according to research published today by Nationwide.

Its Current Accounts survey puts the average cost of Christmas per family at £687.40, with more than half of the working population expecting to spend more than they earn in December.

While the average time spent paying off Christmas debt is five months, one third (34 per cent) took more than six months of this year to clear last year’s debt, with one in 10 still to do so.

While six out of 10 people (62 per cent) have a budget in mind for Christmas, less than half (45 per cent) thought they would be able to stick to the limit.

Six per cent use a loan to cover Christmas, with 24 per cent relying on credit cards.

Despite the mounting costs of Christmas, a staggering 70 per cent of respondents to the survey said they refused to cut back on spending this year, instead preferring to face the financial consequences in the New Year.

Despite people spending more than they have in the run-up to the festive season, the research showed that Christmas Day online shopping is a new tradition.

Thirty per cent of people in the UK plan to do so, parting with an average of £179 each – an increase of £122 compared to last year.

Nationwide customer data also confirms the trend of spending on December 25, with debit and credit card customers spending in excess of £20 million on Christmas Day last year, £3m more than in 2015.

The poll suggests men will be the biggest Christmas Day online spenders, planning on parting with £202, compared with £155 for women.

The top three reasons people gave for Christmas Day shopping were wanting to get the best bargain (13 per cent), wanting to spend gift money (12 per cent) and shopping out of sheer boredom (nine per cent).

But the spirit of sitting down as a family is not lost, with only two per cent planning to shop online between midday and 1pm, compared with a fifth who shop before 10am and a quarter between 6pm and 9pm, when many families settle down to watch festive films ... or sleep.

“Christmas is one of the most expensive times of the year, with expectations running high on presents, nights out and visits to family and friends,” said John Hutton, Nationwide’s director of payments.

“Our research shows that many people are spending beyond their means in order to have a fantastic day, with many taking months to repay the costs.

“We’d always advise sticking to a budget and where possible to use savings or spare cash to help cover the costs in the first instance.

“However, borrowing doesn’t have to be a last resort – using a credit card might actually be an effective way to cover costs.

“You’re also protected through Section 75 on goods costing between £100 and £30,000, but make sure at least the minimum is paid off each month to avoid additional interest and ensure you are able to pay off the costs in full.”