As the holiday season approaches, parents across the U.S. are preparing to splurge on gifts for their children.
Overall, American parents are expected to spend $461 per children’s wishlist. That’s according to a new survey from online shopping site Coupon Birds. The state where a kid’s stocking is going to be most stuff is New Jersey, with moms and dads planning to drop a generous $712 per child this holiday season.
New Yorkers expect to rack up a bill of $598 per little one, which will still bring home a hefty sack of toys.Meanwhile, those in South Dakota only plan to shell out $247 a child — the least of any state. As for Florida, we’re middle of the pack at almost $500 per kid!
**But some parents aren’t holding back.
9% of U.S. parents say they are going to check off the big ticket items on their children’s wishlist, spending $1,000 or more per child this holiday season.
About 49% of parents plan on going into debt due to Christmas shopping this year, with 65% of them saying they can’t afford to pay in cash and plan on using credit.
A quarter of parents are doing it to provide amazing experiences for their family, including concerts and vacations, but the majority are still wrapping presents to put under the tree.
Top-tier spenders: New Jersey: $712 Texas: $659 Pennsylvania/Massachusetts: $648
More modest budgets: South Dakota: $247 West Virginia: $255 Nebraska: $263