A Third Of Parents Give In To Present Demands From Children
It can be hard to resist the temptation to buy everything your children want for Christmas, so much so that a third of parents have admitted they give in after being pestered for a gift from their kids.
According to recent findings from the Money Advice Service, nearly half of mothers and fathers claim their little ones are more likely to demand money or other things in the run-up to December 25th.
This may not even include their actual Christmas present itself, but other treats they want during the festive season.
However, a third have admitted that giving in to this pestering has resulted in them getting into the red and had to take out credit to pay for these extra expenses, revealed The Money Pages.
Director of financial capability at the Money Advice Service Sarah Porretta stated: “It can feel like there is a great deal of pressure to spend over Christmas, but it’s never worth putting yourself through stress and worry in the New Year or getting into debt you can’t manage.”
She suggested several ways to limit spending during the festive period, including making a list before going Christmas shopping so you do not buy things you do not need; setting a budget with regards to kids’ presents and asking them to make a list of items they want within that limit; and swapping expensive food options for own brands.
Parents who want to get their children great presents despite having a tight budget should simply look for alternatives. Instead of buying gold jewellery, for instance, they could purchase gold-plated earrings or get a piece of pre-owned jewellery re-plated and give it to them as something they will treasure forever.