-
Parents in the North East are the fourth-most generous in the UK
- Approximately 1 in 6 parents said they spend upwards of £500 per child
New research from Wealthify has found that parents in the North East are amongst the most generous in the UK at Christmas – fourth to be exact, behind Wales, Northern Ireland and Scotland. The average amount spent in the North East is £314.36, over £40 more than the national UK average at £271.22.
Approximately 1 in 6 parents in the North East said they fork out upwards of £500 per child, the fourth-highest number of parents to spend this amount in the UK, again behind Wales, Northern Ireland and Scotland.
Interestingly, where a fifth of Londoners said they only spend between £50 to £100 per child, only about a tenth of those in the North East said they spent this amount.
The findings come to light following the launch of a new Friends and Family feature for Wealthy’s Junior ISA (JISA), which allows parents to invite others to contribute to their child’s JISA.
This will allow friends and family to contribute to a child’s future as an alternative to the seasonal gifting of toys which previous studies have shown children grow tired of in an average of 36 days.
It is hoped the new feature will encourage more open dialogue between parents and their wider circle on how to gift in a more sustainable and future-proofing way.