Money the preferred festive gift in tough times

Nearly two-thirds of Britons would like to receive money instead of a present this Christmas, with more than half saying the cash would help ease their financial situation, according to a new survey.

Around 59 per cent of people said they would prefer to get money than any other type of gift, with 51 per cent saying it would help them out financially and only 13 per cent claiming it was so they could buy something they wanted, according to discount website MyVoucherCodes.co.uk. A further 4 per cent of people even claimed they felt disappointed if they received a Christmas card from a close family member and it did not contain money.

One in ten people admitted they had tried to return a gift they had received in the past, with 48 per cent saying it was so they could get some money back and only 22 per cent saying it was because they did not like the present.

Just under half of people said they struggled financially over the Christmas period, while 32 per cent said they would end up in debt from covering the cost of the festive season.

Around 42 per cent of people said they always overspent at Christmas, but only 22 per cent said they started shopping early in order to spread the cost.

Farhad Farhadi, personal finance expert at MyVoucherCodes.co.uk, said: "As all of the respondents we spoke to were aged 21 and over, it was surprising to see that so many would prefer money in a Christmas card. That's normally something you'd associate with teenagers, but on finding that many would prefer the money for financial reasons, it all starts to make sense."