£384 Christmas present bill

The average Christmas shopper is set to spend £384.40 on 18 gifts this year.

However, research by Halifax reveals a gender divide when it comes to shopping.

Men spend £56 less on Yuletide gifts and buy seven fewer gifts, but they are more likely to spend more cash on a single present.

Six per cent of people spend over £1,000 on Christmas gifts and a further six per cent spend under £20.

Across the country the biggest festive spenders are in the north, buying £627.70 worth of gifts, while in East Anglia shoppers were savvier with their cash, spending £242.20.

Northerners buy on average 26 presents while Londoners buy 12.

With such large amount spent on presents – never mind food, drink and entertainment - numerous shoppers will be turning to their credit cards.

By opting for the wrong credit card with higher rates shoppers could be paying £23.09 in interest on a card with 17.9 per cent APR, warns Halifax.

However, by choosing a card with a 0% introductory period no interest would be paid.