How much is “normal” to spend on a child’s vacation? This is a question you might be thinking about when you’re carrying too many shopping bags through the mall and playing “Last Christmas” by Wham! at overstimulating volumes.
Let’s be honest, there is no “normal” amount – it all depends on your financial situation, your child’s age and interests, and whether they make the naughty or nice list this year (Jk, jk). However, a survey that asked parents how much they spent on gifts each year showed that parents spent an average of $173 per child.
The survey, conducted by Everyday Health Group – Pregnancy and Parenting and shared by What To Expect, surveyed 467 women aged 18 to 44 with at least one child aged five or younger.
It’s no secret that holiday shopping can get expensive, fast (personally, my wallet is still recovering from Cyber Monday). So it’s no surprise that mothers say the more children they have, the less money they spend per child. Families with one child spend an average of $202 on gifts, while families with multiple children spend an average of $170 per child.
The numbers also vary by age, with parents spending an average of $161 on children ages 1 to 4 and slightly more at $168 for babies 12 months and younger.
Here’s a surprising finding from the survey: Gen Z moms tend to spend more than Millennials. The survey found that Gen Z moms spend an average of $179 per child, while Millennial moms spend an average of $170 per child — interesting, considering the average household income of Gen Z households surveyed is just $56,021 , while the average household income for older Millennial households is $76,747.
It’s important to remember that these numbers are just averages, and what makes sense for your home may be different than for others. If you can spend $800 on your child, by all means, go for it! If your budget is $20 this year, well, this is $20 worth of holiday magic!
