What is the right amount to spend on gifts this holiday season?
Moms are expected to spend an average of $173 per child on gifts this holiday season, according to a November survey of 467 mothers by parenting website What to Expect.
Unsurprisingly, parents with fewer children have a bigger budget: Moms with one child say they plan to spend $202, or about 18% more.
The amount spent per child doesn't change much by age group, the survey finds. Babies under 12 months old are getting the same amount as kids aged 1 to 4.
But Gen Z moms say they are shelling out more cash.
Gen Z moms are planning to spend $179 on each child, compared to $170 for Millennial moms.
The younger generation is planning to spend more despite having a lower income: Gen Z moms had an average salary of $56,021 versus $76,747 for Millennials, the survey finds.