Young children understand the importance of spending quality time with their parents at Christmas.
Research carried out by the charity Family Action has found that youngsters place more value on the company of their mum and dad than receiving presents.
Despite this, parents admitted they still do feel under pressure to meet the expectations of their children when it comes to gifts.
Indeed, some UK adults admitted they budget up to one year in advance in order to make sure they can afford the cost of Christmas.
Because of the economic situation facing many individuals, they have even considered cancelling Christmas this year in order to give them an opportunity to save some money.
Family Action Chief Executive Helen Dent said: "It's worth remembering that Christmas doesn't have to cost the earth for children to have a good time."
She added mums and dads should recognised how easy it can be to create a positive festive experience, as activities such as socialising with the extended family will leave most kids very happy.