As the cost of living crisis continues to hit households hard, nearly three-quarters (74 per cent) of those in the South West will be reducing how much they spend this Christmas, according to a survey carried out by lighting supplier, Ultra LEDs

The results showed people will be spending less this year compared to last, on everything from gifts and clothes to food and drink.

In fact, spending less on gifts was the most common way South West households plan to save money this Christmas, with just under two-thirds of respondents (59 per cent) stating they’ll cut spending this year. Although many did say they feel guilty about having to do so.

The top seven things those in the South West will be cutting costs on this Christmas:

1. Gifts (59 per cent)

2. Food and drink (50 per cent)

3. Decorations (38 per cent)

4. Attending parties (35 per cent)

5. Socialising with friends and family (32 per cent)

6. Clothing (22 per cent)

Homes will be a little less bright this year due to the costs associated with running festive themed illuminations too. Despite the majority (84 per cent) of South West households saying that Christmas lights bring them joy over the festive period, nearly half (49 per cent) will avoid putting them up this year due to rising energy costs, which have made bills unaffordable for many households.

The research further revealed the South West’s feelings due to the cost of living crisis, with over half (54 per cent) worrying that the big day will be a disappointment and two-fifths (36 per cent) saying the prospect of Christmas in the current financial climate is making them feel depressed.

When it comes to saving money, those living in the South West have also looked at their monthly expenses to see what they can cut in preparation for the festive season. Topping the list is going out, which includes meals, dates and nights out, while reducing takeaway spending came in at a close second.

Worryingly, nearly a quarter are avoiding dental or medical treatments where they need to pay for prescriptions or further treatment due to the cost of living crisis. With people going to extreme lengths to save for a good Christmas, this could potentially lead the country to a health crisis if the situation continues.

The top 10 ways those in the South West are cutting back to save money due to the cost of living crisis:

1. Cut down on going out (44 per cent)

2. Reduced or stopped buying takeaways (38 per cent)

3. Switched bulbs to energy-efficient ones (34 per cent)

4. Walked instead of driving (29 per cent)

5. Stopped getting beauty treatments (23 per cent)

6. Avoided dental or medical treatments where you have to pay for treatment (22 per cent)

7. Purchased an air fryer to avoid using the oven (22 per cent)

8. Only purchased second-hand clothes (21 per cent)

9. Purchased bulk and frozen food (21 per cent)

10. Cancelled streaming subscriptions (16 per cent)