Brits spend £1.4bn on kids parties
Britain's parents spend a whopping £1.4 billion a year simply on celebrating the birthdays of their children, new figures reveal.
A study by polling agency YouGov of 1,340 mums of children aged between three and 12 found that British families spend an average of nearly £450 each year on children's birthdays.
The report explains that parents spend an average of £87 on a first birthday party and around £84 more on birthday presents. One in four parents admitted to spending more than £100 on a party, while a sixth of families spend more than £125 on presents for each kid's birthday.
Conducted for American Express and the Nectar Credit Card, the research found that families are also spending huge sums each year on other children's birthdays, with parties attended by their offspring costing £49 a year.
Major party costs for parents include entertainment, such as clowns or face painting, bouncy castles, gourmet treats, and trips to amusement parks or cinemas, as children expect more and more elaborate and imaginative events.
American Express vice president of UK partnerships, Kate Harris, commented: "Throwing parties can be a joy for parents and their children alike, however many families find that the cost of entertainment, venues, catering and presents soon adds up."
Parents are being warned that spending large sums on celebrating birthdays each year can add up. Britain's consumer debt mountain is currently pushing £1.2 trillion and, with a recent interest rate rise increasing the cost of borrowing many Britons are expected to start to rein in their spending.
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