Forget the naughty or nice list — what’s under the tree is likely based on what’s in mommy’s wallet.
As the holiday season approaches, parents across the U.S. are preparing to splurge on gifts for their children.
However, one state is set to lead the way in spending, with families planning to invest significantly more than the national average.
Overall, American parents are expected to spend $461 per children’s wishlist, according to a new survey from online shopping site Coupon Birds, but the state where a kid’s stocking is going to be most stuff is New Jersey, with moms and dads planning to drop a generous $712 per child this holiday season.
New Yorkers expect to rack up a bill of $598 per little one, which will still bring home a hefty sack of toys.
Meanwhile, those in South Dakota only plan to shell out $247 a child — the least of any state.
But some parents aren’t holding back.
A shocking 9% of U.S. parents say they are going to check off the big ticket items on their children’s wishlist, spending $1,000 or more per child this holiday season.
However, the hauls aren’t all within budget.
About 49% of parents plan on going into debt due to Christmas shopping this year, with 65% of them saying they can’t afford to pay in cash and plan on using credit.
A quarter of parents are doing it to provide amazing experiences for their family, including concerts and vacations, but the majority are still wrapping presents to put under the tree.
The average American family has 1.85 children per household, but most shoppers are buying presents for more than just their children.
So, how much will they really be spending?
Americans will be forking over an average of $1,014 for gifts this Yuletide, according to Gallup’s 2024 holiday spending estimates.
That’s a 9% jump over 2023, when shoppers dropped an average of $923. The rise comes courtesy of inflation, experts say — a nagging problem that has significantly impacted the retail industry.
To help shoppers enjoy the holidays within their budget, the experts at Coupon Birds shared some tips to help parents manage holiday expectations and credit card bills.
Top-tier spenders:
- New Jersey: $712
- Texas: $659
- Pennsylvania/Massachusetts: $648
More modest budgets:
- South Dakota: $247
- West Virginia: $255
- Nebraska: $263
Coupon Birds holiday budgeting tips:
- Set expectations early: Talk to your kids about holiday plans, focusing on the spirit of the season and why that’s what really matters.
- Shop smart: Look for sales, use coupon codes, and start early (now?) to avoid last-minute splurges and scoop-ups.
- DIY magic: From homemade ornaments to baked goods to whatever creative concoction you can come up with, DIY gifts can be just as special as store-bought ones.
- Give the gift of time: Plan family activities throughout the month — like decorating cookies, watching holiday movies or visiting local light displays — to add warmth to your home and take pressure off of the upcoming exchange.
