LONDONERS ARE AMONGST THOSE SPENDING THE LEAST ON THEIR CHILDREN AT CHRISTMAS COMPARED TO THE REST OF THE UK

• Approximately 1 in 5 London parents are spending between £50 to £100 per child at Christmas – the highest rate in the UK to spend this 
• A further 1 in 5 London parents spend £200 to £300 

• 13% of London parents said they spend £300 to £500 

New research from Wealthify has found that 1 in 5 London parents spend between £50 to £100 PER CHILD at Christmas – the highest rate in the UK to spend this amount.

The majority (27.8%) of London parents spend between £100 to £200 per child, about half of what the majority of Scottish parents will fork out, with 27.5% of Scots saying they spend between £300 to £500.

The independent research also reveals that only 13% of London parents plan to spend £300 to £500.

A further 1 in 10 are planning to spend more than £500, giving London one of the lowest figures for this amount in the country. Comparatively, nearly a quarter (23.8%) of Welsh parents spend this much.

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.