Holiday Shopping Tips: How much to spend, and on whom?

Holiday Shopping Tips: How much to spend, and on whom?
Christmas shopping is in full swing, and it’s always a tricky time of year, trying to buy gifts for family and friends, even co-workers and teachers.

LOUISVILLE, KY (WAVE) - Christmas shopping is in full swing, and it’s always a tricky time of year, trying to buy gifts for family and friends, even co-workers and teachers.

So how much is too much? Or not enough?

Knowing exactly how much to spend this holiday season can help ease stress or awkwardness among peers.

Etiquette experts say “set rules” don’t really apply to immediate family like a spouse or a child, but it’s a good idea to at least set a budget.

A new survey from Quicken says 70 percent of couples agree on a price limit, while the other 30 percent say the more the merrier.

The report also found those couples who don’t set a spending limit are twice as likely to wish their partner had spent more money on them.

So what about those who aren’t immediate family?

Let’s start with your parents and in-laws. Experts from Mannersmith Etiquette consulting say setting a budget is key, no matter the relationship.

Spending at least $20 on your parents, or in-laws, is the right amount. Here are a few other benchmarks:

+ Siblings, nieces and nephews: Approximately $25

+ Close friends: $15 and up

+ Teachers $10 to $25

+ Co-workers $10 to $15

It’s important to remember it all depends on how much money you earn. Different salaries will lend themselves to different gift prices.

When it comes to your hairdresser, the mailman, or anyone who you interact with on a frequent and more personal basis, gifts no more than $10 are appropriate.

Personalized gifts, like cards, or handmade ornaments, are always inexpensive and can last a lifetime.

The National Retail Federation says major retailers are on record pace this holiday season, expecting the average person to spend just over $1,000 on all of their Christmas gifts this year.

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