Birthdays are always fun. They are the perfect time to spoil the favourite people in your life. Many of us struggle with not only finding the most amazing gift but also figuring out how much should be spent on birthday gifts! After all, shouldn’t you spend less on a colleague than, say, a close friend? Of course, that makes the most sense. However, figuring out the appropriate amount to spend on a birthday gift can be tricky. If you need a little help figuring out the best budget for a birthday gift for the people in your life, here’s what you need to know.
Significant Other
Obviously your significant other is the most special person in your life, so it makes sense that you would drop the most cash on them. Granted, how much you spend is typically dependent on how long you’ve been together. If you’re already in a long-term relationship, then spending anywhere from $100-$200 for a gift is a safe bet. If you’re newly dating, then something less pricey is definitely reasonable, like, say, around $25-$50. You might even consider gifting them with a coffee date or something else meaningful, like a picnic in the park, instead. Of course, it’s always the thought that counts with our partners, so splurging on a memorable experience that might go above and beyond the $200 limit is always a possibility. However, it’s always important to spend what feels right to you, and your budget.
Family Members
How much you spend on family members is dependent on just how close you are to them. For example, you’ll probably want to spend more money on your parents than your cousin. But, again, every family is different. In general, spending $75-$100 is a great range when it comes to birthday gifts for parents and $50-$75 for siblings. Anyone else in your family, including an aunt or cousin, who you want to gift? Then, shelling out $25-$50 is more than fine.
In-Laws
Should you treat your in-laws any different than when it comes to spending money on your own family? Well, if you think it will cause any conflict within your family, then you might want to stick with the same budgets mentioned above. Although if you’re inclined to spend a little less on them, like $50-$75, that’s totally appropriate too.
Kids
When it comes to spending money on kids’ birthday gifts, it’s easy to get carried away especially if they are under 18 years of age. After all, who doesn’t like to splurge on a little one? That’s why it’s important to stick to a budget and decide on one awesome gift that will really delight them. Experts say that spending $50-$75 is a good starting point for kids under 18. If there are more than a couple of kids in your family, then you might want to consider sticking close to $50 for each child.
Close Friend
Your close friends are like family, right? Before you decide on how much you want to spend on their birthday gift, it’s a good idea to gage how much money your circle of friends typically spend on each other. You don’t want to under or overspend (although it’s probably always better to spend a bit more than a bit less). On average, spending $25-$75 on a close friend is a good rule of thumb. Although you might want to spend closer to the $25 mark if you plan on giving gifts to two or three close friends.
Colleague
Your colleague is your work best friend, so there’s no wonder you want to surprise them with something special on their big day. You can keep this one simple and stick to a budget of $15-$20.
Ultimately, what you spend on the people in your life for their birthday gifts is entirely up to you. Every financial situation is unique, and you shouldn’t feel obligated to pay for something that you can’t afford. Remember, no matter what: it’s always the thought that counts.
FAQs
How much would you spend on a gift for good friends? Over half of our panel spends between $15 - $25 on a gift for a good friend, 24% spend a little more at between $25 - $50.
What's a reasonable birthday budget? ›
In general, $10 per year of age is a good rule of thumb! Once you have a guideline for how much you have to spend on each person that fits within your annual budget goal, write those amounts down on your gift tracker. Now you have a monthly amount planned to set aside for birthday expenses!
What is an appropriate amount for a birthday gift card? ›
General etiquette is usually under $20 for casual acquaintances, like co-workers, $30-$75 for close friends and family members and more for someone like your spouse or for a big occasion, like a wedding.
How much should you spend on a friends birthday gift? ›
You don't want to under or overspend (although it's probably always better to spend a bit more than a bit less). On average, spending $25-$75 on a close friend is a good rule of thumb. Although you might want to spend closer to the $25 mark if you plan on giving gifts to two or three close friends.
Is $100 enough for a birthday gift? ›
It appears that the general amount for a birthday celebration is around $25, no matter the relationship. Money etiquette experts suggest spending $10 to $20 for classmates while expanding the budget to $25 for close friends, $50 for relatives and upwards of $100 for your own children.
What is an appropriate gift amount? ›
An easy rule of thumb is to stay within the average range of $75 to $200, but you can adjust the exact amount based on your personal finances, as well as your relationship with the couple.
Is $20 enough for a birthday gift? ›
While most etiquette experts agree that $20-$30 is perfectly reasonable for a child's birthday gift, you can spend up to $100 on the child of a close friend or relative, says Helen Holden, founder of Counting Candles, a website that helps parents plan birthday parties.
How much is too much to spend on a gift? ›
If your income is on the higher end, you may want to budget less, from 1-3%. But we'd recommend no more than 5%, no matter your income.
How much does a 25 year old spend? ›
Average American Spending per Day: 25-34 Years Old (Millennials)
| Average Daily Spending by Americans 25-34 Years Old |
|---|
| Groceries | $10.89 |
|---|
| Clothing/Apparel | $5.59 |
| Pets | $1.24 |
| Overall | $208.77 |
11 more rowsThere are no rules when it comes to how much you should be spending. It's a very personal decision based on your financial situation and what you've spent previously. Here are some guidelines to give you an idea of what to spend. For co-workers, casual friends and your children's teachers, stay in the $10 to $20 range.
Giving money as a gift—or even asking for money as a gift—used to be considered tacky. But not anymore. "Money is an appropriate gift," says etiquette expert Elaine Swann, founder of The Swann School of Protocol. "Studies say that it is the most welcomed gift—the one gift that most people want."
How much does the average person spend on a gift? ›
While the right amount to spend will differ based on your income, cultural norms and other factors, a basic rule of thumb is to spend between $50 and $100 on a gift for a family member and between $20 and $50 for a friend.
Should you pay for everyone on your birthday? ›
To celebrate your birthday, you invite a group of friends to dine at your favorite restaurant. Here's the general rule of thumb that most etiquette experts can agree on: Whoever does the hosting does the paying. So, in this situation, hosting your own birthday meal means volunteering to cover the bill.
How much should I spend on my boyfriend for his birthday? ›
If you're hoping for an average figure, most people spend $100 on their partner. But if they've really made the nice list this year, $150 to $300 is a good ballpark number if you can swing it. SurveyMonkey Audience polls from a national sample balanced by census data of age and gender.
Can I gift 100k to my parents? ›
You first use the annual exclusion to reduce the gift by $16,000 to $100,000. To avoid paying gift tax on the remaining $100,000, you can use an amount equal to the estate tax on $100,000 of your unified credit.
Can a parent gift $100000 to a child? ›
The Annual Gift Limits
In 2021, the annual gifting limit is $15,000 but that amount can change from year to year. Many people assume that as long as their gifts are below that dollar threshold that no gift tax has to be paid but if they gift over that annual limit then someone has to pay gift tax.
Is $300 a good gift? ›
How much should you spend? That all depends on whether the gift is off the registry, an experience, or cash. Upon consulting the experts, a wedding gift should range from $75 to $750—but most agree that $300+ is the sweet spot.
Is $50 a good wedding gift? ›
Family members are projected to spend at least $127. Even if you aren't close to the couple, however, it's not very considerate to spend less than $50 on a gift. If you're a coworker or a distant friend, the minimum wedding gift amount you can get away with is $50 to $75.
Is $100 a good wedding gift? ›
The average wedding gift amount hovers right around $100, which is a great place to start, and you can increase or decrease that based on how close you are. If you're very close or related to the couple (and have the wiggle room in your budget), you may choose to spend more—about $150 per guest (or $200 from a couple).
Is $25 too cheap for a gift card? ›
For co-workers, casual friends and your children's teachers, stay in the $10 to $20 range. Gift cards for close friends and family members can range from $25 to $100. When you're selecting a gift card for a spouse, parent or someone else who's very special, choose a card worth $75 or more.
The bottom line
While $20-$30 is a safe place to land for kids' birthdays, if you feel inspired by the gift and not the price tag, let your own budget guide your decision about how much to spend, says Porter. “Gifting is a way to show our care, and there's no price for that.”
Is $50 too much for a gift? ›
In general, experts we interviewed recommend spending around $100 on spouses, $75-$100 on parents, $50 and up for siblings. For kids, $75 is a good starting point but it's easy to get carried away here — especially when they are under 18.
