UK Wedding News
07/11/2016
A new survey has claimed that parents now spend over £200 on their children's birthday parties.
The research, commissioned by Nationwide Current Accounts, found reasons for the surge in spending is due to parents trying to 'out-do' other families, as well as parents coming under pressure from 'pester power'.
A total of 2,000 parents of children aged up to 18 took part in the survey, and revealed that the average cost of a party is now just over £218. Costs include around £77 on hiring a venue and £33 on general party food, with £15 being spent on a birthday cake. Around £12 is said to be spent on an outfit for the child whose birthday it is, while a similar amount is also given to filling party bags for guests.
When it comes to a budget for the party, some 52% of parents admitted that they go over their limit; 8% said they gave in to 'pester power', while 7% said they had been trying to compete with other parties. 14% of parents meanwhile said they spent more than originally planned because they like to indulge their child when they can.
One in 25 parents said they had received contributions from relatives to help with party costs, while one in six said they used their credit card for the event, and one in 20 confessed to using their overdraft.
It isn't just hosting parties that cost parents money, however. The cost of attending other children's birthday parties can also add up, with the average amount now being spent on a card and gift for another child standing at £10.86.
On average, parents said their child had attended four other children's birthday parties in the last year, with one in 16 (6%) having been to more than 10.
Commenting on the findings, Phil Smith, Nationwide Building Society's Head of Current Accounts, said: "For kids, the best parties are often more about spending time with their friends, rather than a lavish event, so parents shouldn't feel under pressure to over-deliver."
(JP/LM)
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Kid's Birthday Parties 'Now Cost Over £200'
A new survey has claimed that parents now spend over £200 on their children's birthday parties.
The research, commissioned by Nationwide Current Accounts, found reasons for the surge in spending is due to parents trying to 'out-do' other families, as well as parents coming under pressure from 'pester power'.
A total of 2,000 parents of children aged up to 18 took part in the survey, and revealed that the average cost of a party is now just over £218. Costs include around £77 on hiring a venue and £33 on general party food, with £15 being spent on a birthday cake. Around £12 is said to be spent on an outfit for the child whose birthday it is, while a similar amount is also given to filling party bags for guests.
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When it comes to a budget for the party, some 52% of parents admitted that they go over their limit; 8% said they gave in to 'pester power', while 7% said they had been trying to compete with other parties. 14% of parents meanwhile said they spent more than originally planned because they like to indulge their child when they can.
One in 25 parents said they had received contributions from relatives to help with party costs, while one in six said they used their credit card for the event, and one in 20 confessed to using their overdraft.
It isn't just hosting parties that cost parents money, however. The cost of attending other children's birthday parties can also add up, with the average amount now being spent on a card and gift for another child standing at £10.86.
On average, parents said their child had attended four other children's birthday parties in the last year, with one in 16 (6%) having been to more than 10.
Commenting on the findings, Phil Smith, Nationwide Building Society's Head of Current Accounts, said: "For kids, the best parties are often more about spending time with their friends, rather than a lavish event, so parents shouldn't feel under pressure to over-deliver."
(JP/LM)
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