Australians will each spend about $37 less this festive season than they did last year as they worry about job security.

A CommBank survey of 1000 Australians found people will on average fork out $1339 this Christmas, mainly on gifts, holidays, and Boxing Day sales.

That’s down $37 less per person from last year, Commonwealth Bank economist, Diana Mousina, says.

“It is an indication consumers will spend less which means it could be a worst Christmas than what we saw last year,” she told AAP.

“The consumer sentiment numbers continue to be pretty poor. The majority of consumers are pessimistic about their personal finances and the outlook of the economy, predominantly the major concern being unemployment.

“People are worried about losing their jobs.”

Almost $18 billion is expected to be spent on gifts, food, and vacations this Christmas.

The majority of the festive budget will go on gifts ($7.6 billion) followed by holidays ($4.6 billion), the survey shows.

Spending will differ among the states, with the biggest spenders expected to be from NSW, where the average person is estimated to splash out $1339.

Queenslanders on the other hand, are the thriftiest. 

They are expected to fork out an average of $779, largely because they spend much less on holidays, eating and drinking out and entertaining family and friends than those in the other states.

On Boxing Day, 25 to 34 years are tipped to spend the most.

The vast majority of Aussies, 72 per cent, will purchase gifts from stores, while 28 per cent will shop online.