Why having a best friend could cost you £23,870

Whether it's at school, on holiday or at work, people make friends all over the place, and some of these will end up being best friends for life.

While this is great for our social life, it turns out it might not be quite so good for our wallets.

It was recently revealed that Brits lend £22.8 billion to friends and family each year, but what about the money we voluntarily spend on those closest to us?

Research from TopCashback.co.uk shows that we spend an average of £23,870 on our best friends during our lifetime.

What with birthday presents, wedding celebrations, travelling to see them and various other costs, the bills can quickly add up.

TopCashback found that we spend an average of £4,697 on our best friend's birthday gifts in our lifetime.

This is also unlikely to be an even amount each year, with 33% of people admitting to splashing out on occasion birthdays like a 21st or 30th.

Do you have a friend who is moving house soon? Get ready to put your hand in your pocket, because Brits spend around £127 on not only housewarming gifts but actually helping friends move too.

Birthdays and house moves aren't the only milestones when we end up forking out either.

When it comes to weddings, it's a well known fact that the costs can start to add up and the bills will quickly rise.

A staggering £431 is the average spend for those Brits celebrating their closest friend's nuptials.

While the good times may be costly, the bad times can also end up being pricey, with UK adults finding they spend around £168 helping their pal through a break up.

But, when it all comes down to it, 85% of Brits said their friendships and relationships are worth more than the money they have.