The holidays are rapidly approaching and many of us are already stressing about gifts. Depending on how you celebrate Christmas, you may have more or less people to buy for, but most of us who are in a relationship do at least buy a present for our significant other. Yet just how much should you spend on your partner’s Christmas gift?
The holidays can rapidly become a very expensive season. Research by Nerdwallet showed that no less than 52% of Americans incurred credit card debt when shopping for gifts last year. Which, when you think about it, is absurd. After all, the festive season should be about spending time with your loved ones and not about who buys the biggest gift. While setting aside part of your income throughout the year, especially for gift-giving purposes might help, discussing the subject with family and friends is also a good idea.
There are many ways to bring down your gift budget. For instance, you could decide to organise a secret Santa-like routine within your family, which means you’ll have to buy just one gift instead of the countless ones you used to. Another idea might be to opt for second-hand gifts, which aren’t just better for your wallet but also for the environment. Or why not decide to all do an activity together and skip the gifts, choosing quality time over material stuff?
The same goes for when you’re buying for your partner. As this is often the person you’re most comfortable with, discussing the subject shouldn’t be too difficult. Setting a maximum budget is a great idea if you want to avoid uneven situations and if you’re in a financially challenging part of your life (for example because you’ve just bought a house together or lost your job), deciding to not do gifts at all shouldn’t feel like a loss. Instead, spend your Christmas by going for a wintery walk or lounging by the fire and you’ll have just as good of a time together.
If you’re not setting budgets or anything of the like, however, it might be interesting to know how much most people are spending on a gift for their partner. A study by CouponBirds shows that the average Brit spends £144.37 (about €174) on a gift for their loved one. Those aged between 35 and 44 tend to be the most ‘generous’, while those aged between 18 and 24 spend the least amount of money on their gift. And in case you’ve been together for a year or less, Forbes suggests not spending more than $50 (€48) on a gift.
The CouponBird study also showed that 75% of those participating agreed that more meaningful gifts are more important than the money spent on them, so no reason to go beyond your budget.
