Going gaga: Parents spend an average of £166 on babies' first Christmas

    

Parents spend as much as £135million on their babies’ first Christmas – the equivalent of £166 each, a study reveals. 

Younger parents are the biggest spenders, with 18-24 year-olds stating they’ll spend around £245 on gifts alone – nearly £80 above the national average. 

However it appears opinion is split on spending money on newborn babies who are unlikely to remember their first Christmas.

Over half of those questioned by the Post Office said they feel splashing out on presents isn’t the best use of cash. A third said they would prefer to receive a contribution to a savings account instead. 

Meanwhile almost a fifth of parents exchange gifts and spend the money on themselves instead.