Godparents are replacing traditional christening, Christmas and birthday gifts with savings, National Savings and Investments (NS&I) has found.
£3 billion is spent on godchildren each year, NS&I found, with godparents spending £96 on christening presents on average.
"Relatives and close friends are choosing gifts that children won't outgrow by investing money in tax-free products such as Children's Bonus Bonds, Premium Bonds and Index-Linked Savings Certificates," said Peter Cornish, NS&I's head of customer offer.
"All three products offer a straightforward and secure way to build serious and long term tax-free investments for children."To read more about investing for children, click here.
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