A disturbing trend seems to be developing when it comes to giving Christmas gifts in the UK. In a recent poll for AOL Shopping, it is suggested that the poorer the parent, the greater the proportion of income spent on children’s Christmas presents.
According to the study, those earning less than £100 a week expect to spend £66.48 on each child’s present(s). Those earning up to £144 will spend £71.05 and those earning up to £199 - £91.22. Those earning between £290 and £389 a week expect to spend, on average, £131.18 on each child while those on £1000 a week will spend an average of £132.60. That is 13% compared with the 66% spent by the poorest families!!.
What are we trying to prove? Keeping up with the RICH Joneses?
We need to learn to ‘cut our coats according to our sizes’. There is no wisdom in buying anything for Christmas that will take you many months (or even years) to pay back.
Related posts:
- January – The "Spend Nothing" Month
- “Spend For Britain” says the Bank of England
- Twelve (Shopping) Days of Christmas 2009
- We Need To Stop This Yearly Financial Madness
- 33% Used Credit Cards To Ease January Payday Pain
- Have You Made This Classic Christmas Shopping Mistake Again?
- Peace On Earth … And In Your Wallet
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