Family Investments: Credit crunch causes Christmas cutbacks
www.moneynews.co.uk > General finance > Family Investments: Credit crunch causes Christmas cutbacks
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Family Investments: Credit crunch causes Christmas cutbacks
Wed 19th Nov 2008
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The child trust fund specialists said that mums and dads may not be able to afford some of the items on the top ten toys list as they are planning on shelling out "significantly less" than last year.
Mancunians would be spending the most on their children's toys this Christmas, averaging £108 per child, and Londoners would be spending the least at £60 per child.
But more than half of parents said they would prefer their children's grandparents to make a donation to a child trust fund instead of paying out for expensive presents this year.
Kate Baker, head of savings and investments at Family Investments, said: "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."
Last week a survey by Verdict Research revealed that increased prices for Christmas groceries and food shopping would put a greater strain on family budgets this year as well.
Click here for more general finance news
Related News : General finance |
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Related News : Banking |
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