Parents break budget on presents
AUSTRALIAN parents will blow their budgets buying presents for their kids this festive season, spending an average of $390 per child, researchers say.
When it comes to buying Christmas presents, Queensland parents are the most generous while South Australians and fathers are likely to spend the least money, according to Bankwest research.
More than two in five parents admitted they were likely to break their budget for their kids’ presents, and nearly a quarter expected to spend more money than last year.
Nearly a third of parents said they were planning on buying a present worth $250 or more.
But parents’ generosity tends to go unreturned, with 41 per cent saying they were unlikely to get a present from their children.
Children can expect an average of five presents this year, the survey of 791 respondents found.