Daily Dupaco

Wednesday, May 06, 2015

Families spending more than ever for Mother's Day

When it comes to Mother’s Day, families are shelling out more than ever on mom, according to a recent survey.

Americans will spend an average of $172.63 on mom this year, up nearly $10 from last year – and the highest amount in the history of the National Retail Federation’s Mother’s Day Spending Survey.

As a mom of nearly eight years – albeit a thrifty one – I’m surprised by how much families are willing to spend on this day. My favorite Mother’s Day memories have nothing to do with store-bought gifts, fancy meals or the like.

And I suspect I’m not alone.

I would much rather spend the day with my family and remember the blessing that is being a mom. And, if gifts are involved, I predict that it will be the homemade ones that mean the most to me over the years. Art featuring those tiny handprints. Hand-crafted cards and letters. Those are the gifts that stay with you.

But that’s not for everyone. For those who prefer to spend more on Mother’s Day or other gift-giving days throughout the year, it’s important to budget for those purchases just as you would any other expense.

Gift-givers can open one of Dupaco’s You Name It Savings accounts for year-round gift-giving.

“A $15 weekly automatic deposit to a gift-giving account would provide the member $780 plus interest over a year’s time. But members can choose how much to deposit and how frequently,” says Jennifer Hanniford, Dupaco’s assistant vice president of interactive marketing.

By Emily Kittle

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