With less than 12 days to go until Christmas, parents are frantically running up and down the UK’s high streets buying gifts for their little (or big) ones.
As millions of children wait anxiously for Santa’s arrival, many parents are panic buying, spending over £2.4 billion on gifts.
According to the latest research from insurance company, LV, mums and dads will spend an average of £178 on presents and stocking fillers per child.
Mark Jones, LV= head of protection, said, "Kids clearly come first despite tough economic times, with many parents intent on spending the same or more on their children this year.”
"Many families will be feeling the financial strain of keeping their kids happy this Christmas, so it's important we look beyond the short term and also ensure we have suitable budgets and longer term financial plans in place.”
The research also found that parents will spend an average of £157 on gifts and a further £21 on stocking fillers. However, those aged between 7 and 11 may be more loved as parents are expected to spend £220 on children of this age.
Whilst mums and dads are spending more on their kids this year, 8% of them have already spoken to their children about not spending as much this year. However, not all kids have taken this lightly.
One 13-year-old schoolgirl from Bedford threatened to kill Santa Claus in her Christmas wish list, if he didn’t bring the right presents. With demands like this, it’s no wonder parents try and pander their children.
Whilst her mum might not be able to meet the demand of a ‘real-life Justin Bieber’ she has confessed that she will buy her daughter what she wants.
If you’re stuck for gift ideas and need to top the list, you could go online and find a great gift from MightyDeals.co.uk .
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