From leaving carrots out for Rudolph, to waking up to a visit from Santa, Christmas is the most magical time of the year for many children. But with research showing that parents feel pressured to overspend on their kids, the festive season can be significantly more stressful for parents.

Children today serve as style extensions for their parents, whether that means being dressed as ‘mini-mes’ or in niche, hand-made attire. But what’s prompting mums and dads to splurge on their little ones like never before? And what factors shape fashion choices when it comes to high-end kidswear?

Although 64% of Americans say that money is a source of stress, the perception of banks as greedy and uncaring makes it difficult for them to connect with customers who could use their support. So, how can the sector as a whole help those who are prone to spending more than they can save?

For many Australians, Christmas can take a big toll on people’s finances. A survey has found on average, people will spend $1,325 during the festive period, with a large proportion being spent on gifts for others. This is leading some to get creative financially throughout the rest of the year.