71% Of Parents Would Rather You Give Their Kids Cash Than Gifts

Kid Unwrapping Gift

Flickr / sivyerb

Most parents would rather their kids open an envelope of cash than unwrap a present.

Forget finding the perfect present for your nephew.

According to Upromise by Sallie Mae's Holiday Financial Faux Pas survey, most parents (71%) prefer you give their kids money for college than actual gifts for the holidays.

So ditch the trips to Toys R Us, and just stop at your nearest ATM instead.
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The survey also found that less than a third of people are planning on sticking to a budget for gift giving, and that 28% of people wait until the night before to buy all their gifts.

Take a look at the infographic below to see some of the other secrets Upromise discovered about holiday shopping, including how many shoppers are also buying gifts for themselves.

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