Young people 'spend more' this Christmas

Young people are spending more this Christmas than last year

We are going through the biggest recession in 60 years, and youth unemployment is still at a record high. But you wouldn't know it in Bristol.

They have put up huge metal reindeers, as well as the usual baubles and decorations.

There's a choir of primary school children singing Winter Wonderland, and all around them shoppers carrying bags full of presents.

We wanted to know how the recession was affecting young people, so we asked almost 500 16-34 year olds about their Christmas plans.

Have your say: How much are you spending on Christmas?

Our survey suggests that, on average, they are going to spend 11% more on presents than last year.

Fifty-two per cent of them reckon they will spend less than £150. And 10% think they'll shell out more than £450.

That's small fry compared to Danielle Parsons. She thinks presents are going to cost her £800. She has saved for most of the year, but thinks she might have to dip into her credit card.

She said: "I think 2009 has been quite bad for everyone really. Everyone's going out and buying presents, I think it makes them feel happy."

'Bank of mum and dad'

Graphic designer Becky is stocking up on presents and is planning a big Christmas. She's going to double what she usually spends to £400. But she's worried about how she's going to pay for it all.

"The recession's affected me quite badly. Now I'm on part time hours, and bills are going up. I don't really know why I'm spending it all, thinking about it now," she said.

Her parents have helped her out, lending cash and even sending the odd food parcel. So now she wants to treat them to say thanks.

Becky is planning a big Christmas

"It's Christmas, that's the best explanation for it. It's been such a hard year, you want to have a nice week, and enjoy yourself," she said. "You're happy and you want to make other people happy."

2010 predictions

Last December, the economy was struggling in a major way.

But now, there's a growing sense of confidence we are heading out of the recession.

Another thing that makes people feel like they have got more money in their pocket is the low interest rates.

It means some are paying less on debts and certain mortgages. However, people who save money probably getting worse deals at the bank than a few years ago.

Richard Dodd is from the British Retail Consortium, and he's expecting a decent Christmas. But he's still cautious about 2010.

He said: "There are certainly some big worries for the New Year. We're going to see VAT go up on January 1. We're going to see interest rates go up at some point in the year, and a lot of people are still worried about the job market."