As the holiday season approaches, many parents are feeling the pressure to find the perfect gifts for their little ones. A recent survey reveals that, on average, parents are shelling out about $173 for each child during this festive time. Interestingly, this amount stays relatively consistent across different age groups, meaning even infants under a year old receive a similar number of presents as toddlers aged 1 to 4.
Gen Z moms, despite earning less than their Millennial counterparts, are leading the charge in holiday spending, opting to invest more in gifts for their children. Meanwhile, parents with multiple kids tend to spend around 18% less per child, as families with just one child often have a larger budget to work with.
With Black Friday and Cyber Monday just around the corner, many parents are contemplating their holiday shopping strategies. One mom, Sarah, shared in the Modern Family Blog Community, “I feel like I spent an outrageous amount on gifts last year, and I’m torn between setting a budget or just going wild like I usually do.” Ultimately, the right amount to spend varies from family to family and depends on factors like income and the number of kids.
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In summary, parents are spending an average of $173 on holiday gifts for each child, with Gen Z moms leading the charge despite their lower incomes. The amount spent varies based on family size and individual circumstances, making it important for each family to find a balance that works for them.