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!