Who would have thought that parents would invest as much as $173 on holiday presents for each child? Intriguingly, this average amount remains relatively constant regardless of the age of the child, even for infants under 12 months. They tend to receive a similar volume of gifts as children between 1 to 4 years old.
Fascinatingly, our younger generation of mothers, notoriously labelled as 'Gen Z', have shown a surprising generosity than their Millennial counterparts when it comes to purchasing their children's holiday gifts. These Gen Z mothers are not only willing but actually do spend a significant amount more on holiday presents for their offspring. This is quite unexpected given that Gen Z mothers typically earn significantly less than Millennial mothers.
Interestingly, the volume of children in a family determines the amount of holiday spending per child. Mothers with multiple children tend to spend approximately 18% less per child. Conversely, parents with only one child can afford a bigger budget per child. On another note, the upcoming Black Friday and Cyber Monday sales ignite a pressure among parents to stock up on presents for the holiday season. Although these sales provide substantial discounts, costs still tend to add up quickly.
An anonymous motherfrom an online community recently expressed concern over her annual holiday gift spending. She questioned whether it was more prudent to set a strict budget or to continue her tradition of unrestrictedly buying presents, as she had always done. This raises an important point that the ‘right’ amount to allocate for children's presents varies from family to family, influenced by factors such as parental salary and the age of the children.
On average, parents spend a hefty $173 per child each holiday season, as identified through a survey of 467 mothers. Understanding how other families manage their holiday shopping can help you better plan your own spending budget. Mothers with more than one child have exhibited trends of spending less per child. With multiple children, the holidays can become significantly more costly, a likely reason why mothers with multiple children spend less per child.
Parents of a single child often allocate a budget of $202 for presents. While those with additional children spend only $170 per child. Despite this variation in spending, no child ends up lacking, provided that siblings share nicely. Potentially, they may end up owning twice as many presents.
Family holiday spending averages at $173 per child, this does not include other holiday expenses like decoration, special meals or presents for extended family members. A closer examination shows that the child's age causes only a slight variation in this amount. Kids aged 1 to 4 receive holiday gifts worth $161, while those under 12 months receive $168 worth of presents.
This amount may seem excessively lavish, especially considering that children of this age can find equal joy in less valuable items. As one mother states, a 1-year-old would be just as thrilled to play with a new toy, whether it's a high-end toy exclusively for him or simply a box leftover from a gift.
Gen Z mothers, despite having a lower average household income of $56,021, spend an average of $179 on each child. This contrasts sharply with Millennial mothers, who despite earning an average annual income of $76,747, only spend $170 per child. These findings highlight the difference in generosity between different generations of mothers.
If you're experiencing a strained budget this holiday season, you're certainly not alone. However, remember that there are ways to make gift-giving more meaningful than just a price tag. One mother generously shared her holiday strategy. Her family focuses on providing four key presents each: one thing they desire, one thing they need, one thing they can wear and one thing they can read. For her, this strategy has successfully eased the usual holiday stress.
The data from this discussion derives from the Everyday Health Group Pregnancy & Parenting Talk to Moms Monthly Poll. The poll surveyed 467 women between 18 and 44 years old, who were mothers of at least one child up to 5 years old. The survey lasted from October 30 till November 1, 2024. This important information can be utilised to understand your spending habits better and to make the holiday season more manageable and enjoyable.