Consumer Price Index has a “Going Rate” study which focuses on how Americans give, tip and celebrate to gauge our financial wellbeing and how rising prices are impacting us.
- For kids, weekly allowance averages $37 per child and Tooth Fairy payouts are now $14.87 per child.
- According to respondents, the average “going rate” for a birthday gift is $56 for adults, $83 for kids. It’s $85 for a wedding gift; while the going rate for a holiday gift is $64, it’s $55 for Mother’s Day and $38 for Father’s Day, and for a teacher or coach gift it’s $15.
- When it comes to tipping, people report leaving a median of 16% for takeout, 11% for food delivery, 14% for beauty services and 10% for rideshare services.
- Cash and gift cards are more acceptable as presents now than they were in the past, according to 79%.
- More than half (55%) think their generation spends more than others on gifts.
- Half (49%) of respondents say you should “pay for the plate” at weddings.
- The best presents can’t be wrapped, according to 44% who would rather give the “gift of time” than money or material things.
- Some are going to extremes to keep spending down, including a third who are adopting a “no gifts” policy this year, asking people not to buy them anything at all.
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