Parents 'to spend less' on children at Christmas
Parents will be spending less on their children this Christmas than last year in an effort to protect savings, according to new research.A study by family savings specialist Family Investments found that on average, £60 per child will be spent on Christmas presents.This compares with an average of £115 in 2007 and is "barely enough" to buy some of this year's expected big-selling toys.In terms of regions, Mancunians will be spending most, with an average of £108 per child, while Londoners will be spending least, with £60."Christmas is always an expensive time of year, and parents are planning to cut back on children's presents this year, in order to help the strain and enable them to still keep their longer-term savings topped up," said Kate Baker, head of savings and investments at the company."In our experience saving for a child's trust fund is still a priority with 36 per cent of parents willing to suggest to grandparents a donation towards their child's savings, instead of presents this Christmas."
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