The Cost of Christmas

If you were to actually buy all the items in the famous carol about the 12 days of Christmas, the spending spree would set you back at least a hundred grand. But is there another cost associated with Christmas?

Presents for the kids? Check. A few thoughtful gifts for your spouse? Check. A little something for your parents? Check. A gift card for your coworker? A bottle of wine for your boss? A second mortgage to pay for it all? Check, check and cheque.

Lots of cheques.

Yes, the shopping is done, the presents opened, the pageants finished, parties attended, and in the wake of it all two things are abundantly clear: Jesus has arrived, and his birthday breaks the bank. Christmas is costly. But look on the bright side. It could be much worse.

Each year, PNC Financial Services, one of the nation's largest banks, compiles what it calls the "True Cost of Christmas," an accurate, although tongue-in-cheek, analysis of what it would cost us, in the current marketplace, to celebrate all 12 days of Christmas according to the popular carol. That's right, each year PNC analyzes the current cost of things like turtledoves and golden rings as well as the going rate for milkmaids and leaping lords. And this...