BANK ACCOUNTS, CREDIT CARDS
Children are top priority when it comes to Christmas spending
The pecking order for Christmas gifts has been revealed, with children the top priority for Brits when it comes to festive spending.
Research has found that children have the most amount of money spent on them at Christmas, with parents spending an average of £104 on each child.
Parents are most generous in the North-East, with people spending an average of £165 per child. This is almost double parents in the South-East, who spend around £84 on their children.
After children, women can expect to receive the highest-value gifts this Christmas. Brits of both genders are planning to spend more on their mothers, sisters and grandmothers than the male members of their family.
Matt Pernet is head of MORE TH>N Home Insurance, which carried out the research. He said: "Even with the squeeze on family budgets, people are clearly still investing a lot of time and money into selecting the perfect gifts for their nearest and dearest.”
In an effort to save money this Christmas, many people are taking advantage of seasonal cash-back offers being made by banks and credit card companies.
Santander is offering a cash-back incentive of up to £300 for switching to its Preferred Current Account, as well as a £30 Amazon voucher.
“Customers tell us they like our best buy Preferred Current Account because of the 5 per cent in-credit interest which could earn £120 a year, made even more attractive by the offer of up to £300 to switch,” said Liz Chang, Santander's Head of Banking.
As well as cash- for switching bank accounts, there are a range of credit card deals available. The credit cards offering the most cash-back include Capital One’s World MasterCard, which offers 5.0% cash-back on purchases for the first 99 days.
American Express’s Platinum Cash-back credit card also offers high cash-back rewards, with 2.5% cash-back on purchases for the first three months.
Tags: BANK ACCOUNTS, cost of children, cost of christmas, cost of living, CREDIT CARDS