Also, the cost of living crisis continues to grip the nation’s wallets, so many will be looking for ways to avoid wasting money.
UK Money Bloggers (a network of over 400 personal finance influencers and part of the Smart Money People Group), working with children's charity KidsOut, is encouraging friends, family and colleagues to ‘give’ instead of ‘gift’ this Christmas, as the more socially conscious and environmentally friendly option. KidsOut provides Christmas presents for disadvantaged children in women’s refuges, who otherwise wouldn't receive any gifts for Christmas.
UK Money Bloggers conducted research among UK workers and found that through workplace Secret Santa festivities alone, £60m worth of gifts are wasted every year. Other findings include:
A third (33%) of UK workers will participate in workplace Secret Santa this year, but 30% would prefer not to take part, and 36% will give away the gift they receive.
Almost three-quarters (72%) of UK workers participating in Secret Santa would like to see changes this year due to the rising cost of living, including setting a smaller limit for donations (31%) and preferring to give to charity (22%). Based on last year’s Secret Santa budgets, this could mean an extra £37m in the pockets of UK charities.
Ideal as a Secret Santa alternative, a stocking filler, or as a main present for someone who is difficult to buy for, deciding to ‘give’ instead of ‘gift’ could make this Christmas special for others more in need.
Founder of UK Money Bloggers, Andy Webb said: “Buying and receiving Secret Santa presents that end up being unwanted can be an awkward and wasteful experience. Giving to charity instead of gifting presents is the ideal way to make a positive impact with your money instead this Christmas.”