Get Family Christmas Budget

Parents look set to spend well over £100 on each child this Christmas as Brits as a whole will splurge £33.3 billion on gifts. Kids will get the bulk of the money according to a interactive calculator developed by money.co.uk.

The average household income was around $50,000. If you make $25,000, then you would be half of average, and you should have as your guideline for your whole Christmas budget about half of the average, or about $400. ... A family making $50,000 should spend around $800, and that's the entire Christmas budget.

The National Retail Federation's annual survey of holiday spending estimates the typical American will spend $659 on gifts for family, friends, and co-workers in 2019. On the high end, Gallup puts the average at $942, with more than a third of respondents expecting to spend over $1,000 on gifts.

And that all adds up. Moms and dads spent $422 per kid on average last year, with a third dropping $500 on each child aged 8 to 14, according to T. Rowe Price's Parents, Kids & Money Survey. That's partly because 66% of surveyed parents said their kids expected to get everything they wanted.

Re: At what age do you stop gifting for adult nieces/nephews? In my husband's family the "rule" seems to be age 18. At that point the niece/nephew can participate in the general gift exchange if they want. In my own family, we did gifts until age 21.

Key Takeaways. Nearly every year since 2009, American consumer spending on holiday gifts and other holiday expenses has increased over the previous year. For 2020, Americans, on average, expect to spend $998 on gifts, holiday items, and other expenses during the holiday season, down $50 from 2019.

But more often, we know exactly who the spoiler is us. Moms reported they plan to spend an average of $271 per child this holiday, with one in 10 saying they'll shell out upwards of $500 on gifts for each child. Despite the struggling economy, only 1 in 4 moms say they plan to spend less on presents this year.

And that all adds up. Moms and dads spent $422 per kid on average last year, with a third dropping $500 on each child aged 8 to 14, according to T. Rowe Price's Parents, Kids & Money Survey. That's partly because 66% of surveyed parents said their kids expected to get everything they wanted.

Nieces and nephews: $25 and up. Save the big bucks for when your nieces and nephews are older and are more likely to appreciate the effort you put into the gift, Smith says. However, you shouldn't rule out more expensive presents for younger kids if the gift may help out the parents.