Setting a budget when it comes to buying gifts is important, that way you aren’t overspending. Elaine Swann was recently interviewed by Bankrate and gave her advice on how much to spend and how much to spend on certain people.
“If you can afford to buy presents but have no clue how much to spend, first consider your relationship. “The closer you are to them, the more money you would spend [or] send,” Swann says. In general, experts we interviewed recommend spending around $100 on spouses, $75-$100 on parents, $50 and up for siblings. For kids, $75 is a good starting point but it’s easy to get carried away here — especially when they are under 18. The vast majority of families with younger children (71 percent) say they felt pressure to overspend on gifts, per the Bankrate study. But you may want to put on….” Continue Reading