Over-50s to spend average of £300 on Christmas gifts

Household money

20 December 2014 | 1 Comment

People over 50 will spend more on their children than their partners and grandchildren.

British people over the age of 50 will be spending £300 on gifts this Christmas, according to Aviva.

And nearly a third (29%) will spend more on their children than their partners or grandchildren. The latter also get the least expensive gifts at £76 per grandchild. Children get the most expensive presents, at £109 on average.

Of the over-50s questioned, 30% said that buying for children and grandchildren is the most stressful part of the Christmas shopping.

Many have a back-up in place, just in case they struggle, with 19% of respondents saying that giving money is the solution they resort to when they can’t find gifts for the grandchildren.

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Holiday habits

Over two-thirds of those questioned aren’t planning to spend more than they did last year. 

However, over half said they intend to carry on buying presents for their grandchildren indefinitely with only 18% saying they will stop buying presents at some point. 

And as for what they love about Christmas, over half (59%) most look forward to spending time with their family over the festive season. Just 11% look forward most to giving and receiving gifts, and only 10% adore the traditions of Christmas.

Most of the over-50s (70%) will be spending their Christmas at home, 66% with their partners, 53% with their children and 27% with their grandchildren and 8% spend it alone.

The yuletide season doesn't come without stress, however. 21% say they worry about having enough money for gifts to buy while 26% worry about keeping everyone happy.  

How much do you spend at this time of year? Let us know in the Comments below.

Keep on top of your Christmas spending with lovmeoney's free, secure Track tool

More on Christmas:

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The hidden dangers of Christmas

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