Ideas for Christmas on a budget - Support for Parents from Action For Children (2024)

FAQs

What is a good budget for Christmas gifts for kids? ›

In my family, for example, we set a budget and go from there—and many families do the same. According to a November 2022 study, most parents are budgeting $220 for each child—with the highest budgets for 7 to 12-year-olds, though 28% of those surveyed are trying to keep it below $100.

You may not need to get your parents a lot of presents (besides a gift card, that is!). A number of moms and dads who took our survey said they wanted family time over the holidays more than anything. In fact, for moms, spending time with family is their second most-wanted gift.

Just last year, the average American family planned to spend $1,300 on Christmas, according to the Ramsey Solutions State of Personal Finance 2022 Q3 report. Whew! That sounds like a lot, right?

A realistic budget for Christmas gifts depends on individual financial circ*mstances. However, a common guideline is to allocate around 1-2% of your annual income for gifts.

You might be shocked to discover that a 2022 study by Finder found that the average UK spends £420 on Christmas gifts. With parents of children aged 7-12 spending the most, at £472 per child and parents of children aged 0-6 spent the least, at £368 per child.

Kids are amped about all things Inside Out, but they're also really into karaoke, gaming, and pretend play. Crafting is seeing a big tick up, with kids wanting tie-dye kits and fun coloring sets. And when it comes to teens, things like Nike Air Force Ones are a hot item they're sure to love.

Make your grandma a family photo quilt or your best friend a handmade necklace—they'll cherish them forever. For all the inspiration, check out DIY tutorials here: there are Christmas crafts that are easy for all ages, including DIY ugly sweaters, mason jar keepsakes, DIY Christmas ornaments, and candy cane crafts.

There is no magic number but the general consensus seems to be between three gifts potentially up to around five. There will be many factors that contribute to this decisions; how many children you have, presents other family members may buy, how old your children are and, of course, budget.

Christmas is a major expenditure for many Americans. According to the latest data from the National Retail Federation (NRF), Americans spend an average of $997.73 each Christmas.

What is a good amount of Christmas gifts for kids? ›

There is no magic number but the general consensus seems to be between three gifts potentially up to around five. There will be many factors that contribute to this decisions; how many children you have, presents other family members may buy, how old your children are and, of course, budget.

When it comes to buying birthday gifts for other kids, experts agree that $25 is the sweet spot—no matter the relationship. You can't go wrong if you spend around $20 to $30, says Porter. “Opt for an active gift that will get used—a STEM kit, board game, or a fun sports game."

Based on the survey, it seems $200 is a good ballpark amount to spend on your 12-year-old this Christmas as it falls in line with the spending habits of most Americans. Build credit for your children ages 13-25.

A common rule of thumb is to spend about 1-2% of your yearly income on gifts. But the key is to set a budget that fits your financial situation and priorities, so you can enjoy the holiday season without worrying about money.