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