Grandparents Spend £236 On Christmas Gifts
Being a grandparent costs more and more each year, it seems, and this year they forked out nearly £250 on gifts for their grandchildren!
Apparently, grandmas and granddads spent £59 on each of their grandchildren, and as they typically have four, this amounted to £236 in total, according to recent research by Co-op Legal Services.
“The generosity of grandparents is something we’re seeing more of throughout the year, not just at Christmas, as more grandparents, when putting their wills in place, are choosing to skip a generation by leaving a larger share of their property and other assets to their grandchildren instead of their own children,” James Antoniou, head of wills at Co-op Legal Services said.
This could mean more grandparents are leaving heirlooms and personal jewellery to their grandchildren in their wills instead of to their own kids.
One way to make sure these last for years to come is to look for chrome plating services that will give jewellery, watches and other valuables a new lease of life.
Of course, grandparents might be fuelled by guilt, as 19 per cent live more than 100 miles away from their grandkids, one-tenth have little ones abroad, and seven per cent can’t even remember when they last saw them!
However, for many, the increased spending at Christmas is simply because they have had more money this year (32 per cent), or goods have become more expensive, which is something one in seven grandparents claimed.
Those who left their purchases to the last minute could have spent more than £236, after American Express revealed £1.5 billion was shelled out on final arrangements during the week leading to December 25th as people buy in a panic.