Forget the naughty or nice list – what’s under the tree is probably based on what’s in mom’s purse.
As the holiday season approaches, parents across America are preparing to spend money on gifts for their children.
However, one state leads the way in spending, with households planning to invest significantly more than the national average.
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Overall, American parents are expected to spend $461 on wish lists per child New Survey of Online Shopping Site Coupon BirdsBut the state where stocking up on a child will matter most is New Jersey, where moms and dads are planning to give away a generous $712 per child this holiday season.
New Yorkers can expect a bill of $598 per child, which will still bring home a big bag of toys.
Meanwhile, South Dakotans plan to spend just $247 per child — the lowest of any state.
But some parents are not backing down.
What’s shocking is that 9% of American parents say they’re going to check off big-ticket items on their kids’ wish lists this holiday season, spending $1,000 or more per child.
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However, not everything is within budget.
Nearly 49% of parents plan to go into debt this year due to Christmas shopping, with 65% of them saying they can’t pay with cash and plan to use credit.
A quarter of parents are doing so to provide their family with wonderful experiences, including concerts and holidays, but most are still wrapping gifts to put under the tree.
The average American family has 1.85 children per household, but most shoppers are buying gifts for more than just their own kids.
So, how many will they be? In fact Is it being spent?
According to this, Americans will pay an average of more than $1,014 for gifts this Yuletide Gallup’s 2024 holiday spending projections,
That’s a 9% increase from 2023, when buyers dropped an average of $923. Experts say this increase is due to inflation – a serious problem that has significantly affected the retail industry.
To help shoppers enjoy the holidays within their budget, Coupon Birds experts shared some tips to help parents manage holiday expectations and credit card bills.
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Top spenders:
- New Jersey: $712
- Texas: $659
- Pennsylvania/Massachusetts: $648
More modest budget:
- South Dakota: $247
- West Virginia: $255
- NEBRASKA: $263
Coupon Birds Holiday Budget Tips:
- Set expectations early: Talk to your kids about holiday plans, paying attention to the spirit of the season and why it’s really important.
- Shop Smart: Check out sales, use coupon codes, and get in early (now?) to avoid last-minute splurges and scoop-ups.
- DIY magic: From homemade jewelry to baked goods to whatever creative combinations you can create, DIY gifts can be just as special as store-bought gifts.
- Give the gift of time: Plan family activities throughout the month to add warmth to your home and take the pressure off the upcoming exchange — like decorating cookies, watching holiday movies or visiting a local light display.
