Cash Gifts this Year Please Grandma

 

Parents are favouring cash gifts this Christmas a new survey has revealed.

 

The survey, conducted by Family Investments has found that despite the economic crisis, grandparents will still be shelling out on average £50 per grandchild.

 

This will come to a hefty sum as the average grandparent has four grandchildren.

 

More than 50 per cent of parents questioned would prefere a contribution to their child’s savings account and a smaller present rather than a larger gift.

 

It also found that 64 per cent of these parents felt too uncomfortable to make the suggestion without being asked.

 

Head of savings and investments at Family Investments Kate Baker said: “Grandchildren are central to the lives of many grandparents and so it is no surprise that they want to treat their grandchildren at Christmas.  But spending £50 on Christmas gifts might not necessarily be the right thing in the eyes of parents.”

 

“My message to well-meaning grandparents, would be to talk to the parents of your grandchildren and ask them what they would prefer.  In our experience, parents feel that the grandparent’s already do enough for the children or they don’t feel comfortable raising the subject of money.  But re-directing your generosity and making a donation into the children’s savings account, along with a small present on the day, will create a more lasting and welcome legacy.”