In an ideal world every child would receive a brand new Buzz Lightyear or Baby Annabell on Christmas morning, but can struggling UK families really pick up the bill for all these extra luxuries?

Here at 247Moneybox.com we found that the new research published today by Saga and Netmums drew some interesting conclusions. It shows that the huge pressure on mothers to buy expensive gifts for their children is felt more strongly by younger mothers, who are much more likely to overspend than are older parents and those of previous generations.

Interestingly, among parents born in the 1930s, 61% said they typically spent less than £50 in total on Christmas presents for their families, while among the youngest parents, born in the 1990s, only 14% spent less than £50 and 22% admitted to spending more than £200. Moreover, 63% of the younger parents admitted that they go without things for themselves in order to buy their children presents at Christmas.

So, great news for children with young parents – you are statistically more likely to receive an expensive Christmas present!