Parents in Yorkshire spend a staggering £216 per child on Christmas gifts

A recent Legal & General survey of over 2,000 UK parents highlights the often-unexpected financial challenges of raising children — from everyday childcare expenses to the increasing cost of Christmas.

Parents in Yorkshire are spending an impressive £216 per child on Christmas gifts this year, showcasing their commitment to making the holiday season special. However, this generosity comes amid growing financial challenges, as families in the region navigate rising costs and economic pressures.

A substantial 79% of Yorkshire parents report feeling the squeeze, noting that the cost of Christmas for their children has increased in recent years. To stay on top of festive expenses, 70% of parents in the region now set dedicated Christmas gift budgets. Yet, even with careful planning, many families find it difficult to avoid financial strain.

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Nearly half (50%) of parents in Yorkshire are making sacrifices in other areas of household spending to afford gifts for their children. From reducing discretionary purchases to trimming down on non-essential expenses, these cutbacks highlight the lengths families go to preserve the magic of Christmas.

Christmas costsChristmas costs
Christmas costs

As families across the region prepare for the festive season, these findings emphasise the importance of planning and budgeting to help make the most of Christmas without overextending financially.

To adapt to the rising costs of parenthood, parents are sharing resourceful tips and strategies, which can inspire other families to make the most of their budgets:

Embrace Free Activities: Over half (51%) of parents find creative, free activities for family fun, showing that some of the best memories don’t come with a price tag. From local libraries to youth clubs, you can browse your local council website to source free activities.

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Seek Second-Hand Finds: From clothes, to toys, 37% of parents opt for second-hand purchases, proving that quality doesn’t have to mean brand new. Charities such as Oxfam and the British Red Cross have a great selection of second-hand gifts to purchase.

Tap into Support Networks: For childcare needs, especially during summer holidays, one-third (33%) of parents turn to trusted friends and family for help, showing the power of community support.

To find out more, please visit: https://www.legalandgeneral.com/insurance/life-insurance/hidden-cost-of-raising-kids/

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