Children 'expecting fewer gifts this year'

18/12/2008

News of the credit crunch has filtered down to younger generations - with many children well aware of the crisis.

Insurer and investment firm Liverpool Victoria (LV=) said that around two thirds of under-18s know that Britain is suffering from a downturn in its economy.

Just under half said that they knew this would mean they got fewer or less expensive gifts for Christmas this year.

Even within the group of children who still believed in Santa Claus, a quarter still expected their gift haul to be lessened by the crunch.

Overall, a third of under-18s said that they had asked for less this year, due to the downturn.

Mike Rogers, chief executive of LV=, said: "Children are surprisingly clued up about the credit crunch and the impact it is having on Christmas and on family life generally.

"It is humbling to see that so many children are doing their bit for the family."

Tags; Budgeting Advice, Young Family Finances,

Regional Debt Advice; Debt Advice Liverpool,

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