The Christmas Spending Ex-Factor!

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Dec 10, 2012, 11:39 ET

CHESTER, England, December 10, 2012 /PRNewswire/ --

8.4 million UK adults regret spending money on Christmas presents they bought for ex-lovers
Great expectations: Men think their partners will spend more money on their Christmas presents than they actually will

When it comes to buying romantic Christmas gifts this year, women are definitely the most frugal, reveals research by MoneySupermarket*. Men will spend an average of £131.90 on their partners, whilst women plan to keep it very much under the £100 mark, spending an average of £93.50. However, it seems men and women can't always let go of the ghost of relationships past, as 8.4 million (17 per cent) say they regret spending so much money on Christmas presents for their old flames.

The Spending Ex-Factor

Research into the Christmas spending patterns of UK's adults further reveals it is younger adults aged between 18 - 34 who most regret their festive spending on ex-lovers. One in four (25 per cent) state this is the case - more than any other age group. When asked why they regretted spending money on their ex's presents, unsurprisingly 39 per cent of adults said it was because they broke up with their partner soon after giving them. However, 35 per cent of women also stated they didn't think their partner was worth spending that much money on, whilst just 25 per cent of men said the same.

The research also shows that these feelings may be impacting how much money men and women plan to spend on each other's Christmas presents this year, especially if they are at the start of a new relationship. Men who have been dating their partner for less than three months, for example, plan to spend an average of £38.40 on their loved one, whilst women plan to spend a more modest £21.60.

Great Expectations

However, the research also revealed a disconnect between what men and women will spend on their partners vs how much they will actually spend. Whilst men think their partners will spend £100 on them they are actually planning on spending less at £93.50 on average. Similarly, women think their partners will spend £87.50, when they are actually planning to spend a lot more at £131.90 on average. When it comes to buying the presents themselves, it seems women get it more right than men, with two thirds of men (66 per cent) stating their current partner is the best at buying Christmas presents for them, compared to just four in 10 females (43 per cent).

Clare Francis, personal finance expert at MoneySupermarket.com said: "The last 12 months have been difficult for many people across the UK, especially as budgets have been stretched, and many people may find they don't have much spare cash around this Christmas. With this in mind, it might explain why couples in new relationships are planning to keep their spending relatively controlled when it comes to buying their new partner a Christmas present. However, they may also be hedging their bets and want to see how the relationship turns out as well! With 8.4 million adults already saying they regret spending so much money on previous partners presents, it could be that sensible adults are really trying to watch their spending when in a new relationship this year."

Notes to Editors

*Research undertaken online by Opinium between 12^th - 14^th November 2012 amongst 2011 nationally representative adults (aged 18+)

For further information contact:

Paul Lawler/ Nicki Parry

MoneySupermarket.com

0787 237 9545 / 01244 370 318

[email protected] / [email protected]

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