The financial expert has said ‘it’s time’ to stop sending these gifts to people
Millions of people around the world will have a to-buy list that seems never-ending in the lead-up to Christmas, including the mass of shopping that occurs before December 25. But Martin Lewis has said that people should be ‘banned’ from giving out one type of present – ‘unnecessary’ gifts – this season, in an effort to break a ‘vicious cycle’.
In an Instagram video shared on November 18, the Money Saving Expert founder and broadcaster said: “Christmas has become a retail festival, and it shouldn’t be. Christmas should be joyous, but for some people, it causes unhappiness, debt, and worry.
“Many people feel obliged to buy gifts for others that they know they won’t use with money they don’t have, and cause themselves stress they don’t need. And I think part of the reason for this is that we have disconnected from why we give gifts.”
Martin explained how gift-giving worked originally as a form of social banking – using the example of a wedding. He said older, more affluent people would gift to younger people to “help them start out” and, in turn, continue the cycle once they were the ‘older’ people in the gift-giving chain.
The ITV regular went on to say: “With Christmas, it’s a zero-sum game. I give to you, you feel obligated to give back to me at a similar value. Now, to fulfil that obligation, we do tit for tat giving, which means people end up with tat.
“It can misprioritise people’s finances and create a financial burden. So, what I think is time for us to get off this gift-giving treadmill. I think sometimes the best gift is releasing others from the obligation of having to give to you.
“Let’s work together to ban unnecessary Christmas presents – not for your spouse, not for smiling children under the tree, but that ever-expanding list of friends and cousins and teachers that we feel forced to buy for. Use me as your excuse.”
Martin added that the video was filmed for his Money Show Live on ITV back in 2018, but the financial expert has claimed his message still stands in 2025. In the video caption, he wrote: “This is my original video from 2018, went viral then, still does the rounds now. Must’ve been watched 20 million times!”
Brits are expected to spend an average of £514 each on Christmas gifts in 2025, according to research from Finder. That is on top of all the other festive expenses that come this time of year, including food, decorations, parties and more.
Millennials (aged 29-44) were found to spend the most at Christmas, with an average expenses of £1,011 each, including £617 on gifts. Generation Z (aged 18-28) is not far behind with an average total planned spend of £940 each (£585 on Christmas presents).
If people are going to follow Martin’s ‘ban’ and cut down their to-buy list this December, have a conversation with people well before Christmas to give them time to adjust their own plans. Say clearly that you are not exchanging gifts this year, with a simple, kind, and honest explanation, often being the best approach.
