Presents will cost us £400 apiece

CONSUMERS in the UK are set to spend more than £400 on Christmas presents this year, according to a survey by Fool.co.uk.

That's about a third of a month's salary for many people.

Brits will spend £419 on presents for an average of ten people.

While one in 20 people spends more than £1,000 to create the perfect Christmas, one in seven people are happy to give homemade presents.

Typically, people fork out £27 on each gift for friends and family - but say they are happy to have only £19 spent on them.