Don’t succumb to ‘giftflation’ – there are other ways to show love this Christmas | Clare Seal

Buying expensive presents once helped push me into debt. Take it from me: no present is worth your peace of mind

Whether we are driven to move, impress or simply not disappoint, many of us feel undue pressure to choose the perfect gifts for our loved ones at Christmas, no matter the cost. And each year, our expectations of our gift-giving abilities only increase - presents must be bigger and better and we must outdo ourselves again and again, otherwise we will have failed.

The practice is known as giftflation" and it sets a ruinous precedent. In the UK, we spend more than any other European country at Christmas, with projected sales this year estimated at 82.2bn. And each year, our rampant consumerism reaches dizzying new heights. In 2020, at the height of the Covid-19 pandemic when celebrations were curbed to reduce transmissions, Britons still spent 26 more on presents than the previous year, with those struggling with debt spending 51 more than in 2019.

Clare Seal is an author, financial coach and founder of the @myfrugalyear Instagram account