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Is there a “normal” amount to spend on your kids’ holiday hauls? It really all depends on your financial situation, and of course, whether they’re on the naughty or nice list this year. But a new survey asks parents what they typically spend buying presents for their little ones to get a general idea.
Everyday Health Group polled 467 moms with at least one child age five or younger and found:
- On average, parents spend $173 on holiday presents for each kid.
- But moms report spending less per child the more kids they have.
- Families with just one kid shell out an average of $202 on presents for their only child, while those with multiple kids average $170 each.
- Age is also a factor, with parents of kids between one and four years old spending an average of $161 each, while those with babies a year and younger spend slightly more at $168.
- Gen Z moms also tend to spend a little more than millennial moms. While Gen Z moms average $179 per kid on holiday gifts, millennial moms spend $170, on average.
- That’s somewhat surprising considering the average household income for Gen Z families in the survey was $56,021, compared to millennials at $76,747.
Source: Scary Mommy