GENEROUS shoppers collectively spent a whopping £14 billion last Christmas and overspent by £160 each, according to new supermarket research.

Data releases by Asda Money suggests that few Brits were able to stick to their Christmas budgets, with the nation spending £1.23 billion more on presents, food and drink than they had anticiptaed.

Only 65 per cent of us set a budget and, of those, only three quarters managed to stick to it.

Women went over budget by a larger amount then men, overspending by £169 compared to £148 respectively, and just under a third of people dipped in to their savings.

The 35-54 age group were the biggest culprits for overspending while one in five of us put Christmas on a credit card, meaning millions have started 2015 in debt.

Michelle Creaney, Head of Gift Cards and New Ventures at Asda Money said: “We know how difficult it can be to keep to a Christmas budget.

"People want to make the most of the big day and there are often those little extras that are bought at the last minute."

  • Did you overspend last Christmas? How are you planning to be more thrifty this year? Let us know your tips and advice below.