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Children 'get cash for Christmas'

New research has revealed that the UK's youngsters can look forward to a major cash boost on Christmas Day this year.

According to MoneyExpert.com, British children will receive a collective £2.4 billion in cash this Christmas, with the typical adult handing over £94.82 during the festive period.

With 48 per cent of the nation's adult population intending to give cash gifts this December, the financial advice website has urged parents to teach their children about the importance of money management.

"Giving kids some cash for Christmas is a good way to put a smile on their face and possibly help them to get the savings habit," said Sean Gardner, chief executive of MoneyExpert.com.

"I don't want to spoil the fun, but if your child has some cash lying around on top of their Christmas presents this year, it might be worth suggesting they start saving," he added.

According to recent research from Halifax, the average Briton is planning to spend £400 on Christmas presents this year. A personal loan can help people to cope with festive expenditure.

See how much you could borrow with a Lombard Direct personal loan.

© Adfero Ltd

10/12/2007 16:01:39

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