The predictions were formulated using algorithms to combine spending insights from Money Dashboard’s membership, along with trend data from social networks and search engines over the past four years.

Money Dashboard hope the findings of the ‘Spending Oracle’ will enable UK consumers to ‘accurately and effectively’ plan their monthly spending and ‘big’ purchases throughout the year, to ensure they receive optimal value.

Assorted Delphic insights ‘revealed’ by the research include;

• The most expensive month for gas and electricity overall will be September, as people re-adjust to dropping temperatures.
• The most cost-effective time to start a gym membership will be the final quarter of 2015. A drop in membership rates during the year will mean gyms are likely to offer better deals.
• The most impoverished day of the year will be December 20th, the day after most people complete their Christmas shopping.
• The best time to book a break will be the first three months of the year; April is likely to be the month when most money is spent on flights.
• The best time to buy a car is in June, August or November, when car buying is at its lowest and dealerships are happy to offer discount prices on old stock.
• UK residents will start thinking about Christmas gifts in July (last year, it was August).

“It’s amazing that we are at a point in time where there is enough data in the world to predict how we might spend our money this year,” Lisa Raynsford, of Money Dashboard, said.

“The Spending Oracle findings are very useful for anyone who is setting their budgets for the next 12 months. This gives everyone an insight into when some of the biggest purchases are most expensive, and helps them to get ahead of those spikes and be better with money throughout 2015.”