The cash in your wallet is never more valuable than when you can use it to buy the things you really need.
In a new study from The National Centre for Child and Family Studies (NCCFS), Cash for Children and Families (CFCF), a charity that helps children and families with childfree lives, has released its annual survey of childfree consumers.
The NCCFS surveyed a sample of 3,000 parents, and found that children aged under 14 are the most likely to have cash for their Christmas shopping.
While only two per cent of parents reported using their own money to buy Christmas gifts, the average amount spent on Christmas items was more than four times the average spending of a family of four.
The median spend was £100 on a child’s Christmas, £250 for a family.
The report also found that the average cost of a Christmas present was £200, compared to £40 for a single item.
When asked what gifts they most wanted for Christmas, the NCCF found that 70 per cent wanted to use the money to purchase gifts for their children.
However, the most popular gift choices were children’s toys and children’s books, with 75 per cent opting for a new toy.
The NCCFs research also found the most common gifts were childrens’ books, toys and games, and a range of other items.
In total, a total of 3.4 million people in the UK used cash to buy gifts, gifts for children, and the NCAF found £8 billion was spent in 2017.
The average spend on Christmas was £3,632, a decrease of 8 per cent compared to the previous year.
A few items were the most commonly purchased items, with the average Christmas spending on a single gift being £4,200.
The biggest spending was on a set of three Christmas lights which was £15,000, followed by a childrens Christmas tree, £7,000.
Other items, such as toys and clothes, were less popular.
A quarter of parents surveyed said they would like to buy new clothes, toys, and accessories, and half would like a new car.
This was followed by gifts for the family, with more than a quarter of households choosing a new gift.
A majority of parents would prefer to buy a new computer, a new mobile phone, and even a new sofa or bed.
However only half would buy a Christmas tree for their home.
The report concluded that a Christmas gift of a new Christmas tree was more affordable than a new iPhone, a TV, a laptop, or even a house.
The study found the average family budget for a child would be £5,400, compared with £6,600 for a typical family.
The charity also found a number of other key Christmas gifts were more affordable.
For example, a £200 Christmas present would cost an average family £2,300, compared on average to £4 for a Christmas dinner.
The number of children’s items purchased was also lower than in previous years.
Last year, only 21 per cent were bought as a family, and 31 per cent in 2017 were used by a family member.
The charity also pointed out that the majority of gifts bought in 2017, were for toys, toys for children’s, and games for children.
The latest figures show that in 2017 there were 664,000 children in the total UK population aged under 16, down from 888,000 in 2016.
It’s hoped that this decline in numbers will result in an increase in the number of Christmas shopping baskets, as the NCCCF will also be releasing an annual report on the statistics for 2017.
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