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LONDON, ENGLAND - OCTOBER 19: An actor dressed as Santa poses for photographs next to a Christmas window display at Selfridges on October 19, 2017 in London, England. Selfridges is the first department store in the world to unveil its Christmas windows and full in-store displays led by the theme "With Love From", a celebration of both the cities Selfridges calls home and people coming together. (Photo by Carl Court/Getty Images)

One thing about Christmas time that always gets me every year; I never know how much I should be spending on gifts. You don’t want to spend too little and look cheap, but you also don’t want to go WAY overboard… which is usually what I end up doing.

Well a new Consumer Expenditure Survey just came out saying that the average American will spend about 1% of their annual salary on gifts.

For example, if you make $50,000 a year, you’re probably spending about $500 on gifts.

Is this accurate for you? I definitely went over budget this year but I just can’t help it around Christmas time!

At the end of the day, it’s always the thought that counts, and not the amount of the gift!