Deciding how much to spend on birthday gifts is a very difficult thing to work out. You don’t want to be too stingy, but you don’t want to go broke either. My wife and I decided a while ago that we would stop giving presents to people for the big commercial holidays like Christmas, but that we would be happy to spend a bit more on birthday presents for people to make up for it.
I always find it interesting to see what gifts people give to other people. Recently someone at work was telling me how they bought their mum a new iPad for mothers day. I remember thinking to myself that this guy has more money than sense as it would have set him back around $500. To me if you want to get a present that large it is a great candidate to get a group of people involved and everyone can chip in a nominal amount so that the more expensive gift can be purchased.
I always thought that between $30 and $50 was a good amount to spend on birthday presents unless it is for a big/milestone birthday then I feel that up to $100 is a little more appropriate. I don’t like to go overboard with present giving as it can get so expensive and you can end up spending thousands of dollars a year just on gifts for people. My wife and I combat this by no longer giving gifts to friends or extended relatives as we found this was costing us quite a lot of money and things were getting a little bit ridiculous.
When it comes to gift giving between my wife and I, we limit the amount that we spend on each other to around $100 which we have found works pretty well. Most of the time we spend less, but it is good to have an upper limit not to exceed.
How much do you spend on gifts for people?