New research from Friends Life suggests that one in three Brits will choose to give money rather than presents this Christmas.
The average cash sum will be around £110, although a generous one in twenty will give between £200 and £500, according to the findings from the UK pensions and insurance giant.
Over thirty per cent of people in the UK prefer to give money so that people can make their own choice as to what to buy, while a quarter believe that cold hard cash is appreciated more. Apparently, one in 10 men say they would opt for money over a Christmas gift just so they don’t have to go shopping.
More than a quarter of people give their children a cash gift, while 14% give their nieces and nephews money instead of a present.
Lindsay Forster, consumer marketing director at Friends Life, said: “Christmas is a time for giving and our research shows that increasingly, people are opting to give money so the recipient can make a choice on how they use it. It’s a great opportunity to help your loved ones think about how they manage their money, giving cash can help people to save towards things they really need.”
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