81% of Scottish Parents Say Christmas Costs Are Rising – Here’s How to Budget Smartly

For parents, Christmas is a season of joy, filled with opportunities to create special memories, but these can also be costly.

On average, parents in Scotland spend £256 per child on gifts, showing their dedication to making the holiday season magical. While 81% acknowledge Christmas expenses have risen, parents are embracing smart budgeting to keep the season festive without overextending. In fact, 73% set a Christmas gift budget for their kids, although 43% admit they ‘often go over budget.’

Tips for Tackling Family Costs: To adapt to the rising costs of parenthood, parents are sharing resourceful tips and strategies, which can inspire other families to make the most of their budgets:

Cost of Christmas

Embrace Free Activities: Over half (51%) of parents find creative, free activities for family fun, showing that some of the best memories don’t come with a price tag. From local libraries to youth clubs, you can browse your local council website to source free activities.

Seek Second-Hand Finds: From clothes, to toys, 37% of parents opt for second-hand purchases, proving that quality doesn’t have to mean brand new. Charities such as Oxfam and the British Red Cross have a great selection of second-hand gifts to purchase.

Tap into Support Networks: For childcare needs, especially during summer holidays, one-third (33%) of parents turn to trusted friends and family for help, showing the power of community support. With rising living costs, many parents encourage expectant families to plan ahead. From starting a savings plan to budgeting and taking out life insurance, Legal & General’s survey highlights practical steps families can take today to prepare.

For more information, visit: https://www.legalandgeneral.com/insurance/life-insurance/hidden-cost-of-raising-kids/