Wednesday, January 24, 2007
Category:
Consolidation
Recent research from American Express shows that families in Britain are spending almost £450 a year celebrating their children’s birthdays.
Collectively Brits are spending £1.4 billion on children’s first birthday parties.
The average spent on throwing a child’s first birthday party is £87 with a further £84 being spent on birthday presents. A quarter of parents are reported to spend more than £100 on their child’s party with one in ten spending over £150.
Cost is not just limited to offspring’s birthday parties, with presents for other children’s parties costing parents an average of £49 per year. For an average family with two children, the cost of celebrating birthdays is costing Brits around £450 a year.
70% of parents of children aged between 3 and 12 said that entertainment can make or break their little ones’ fun. Other parents suggest delivering gourmet jelly and ice cream and going to amusement parks can make parties a success.
Putting on the party isn’t always about the children however. While two thirds of parents said that they threw great parties because they felt their children deserved them, one in ten said that they put on great parties just to impress friends, family and other children’s parents.
Commenting on birthdays, Kate Harris, Vice President of UK Partnerships from American Express, said ‘Throwing parties can be a joy for parents and their children alike, however many families find that the cost of entertainment, venues, catering and presents soon adds up.’
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Parents who find that entertaining their offspring has necessitated credit card spending could consider consolidating debts with a debt
consolidation loan. One of many options to clear credit card debt, a debt consolidation loan will allow card holders to clear multiple credit card balances. Debt consolidation loans can be secured on your home and can be repaid over a term from 5 to 25 years. When opting for a debt consolidation loan, it is however important to remember that repaying borrowing over a longer term will increase overall interest charges. With a debt consolidation loan, multiple monthly repayments will be wrapped into one and cardholders will know the exact date and amount to be debited from their account each month.
