What is the value of your friendship?

Thursday, June 9, 2022 12:01 pm
Reading Time: < 1 minute

Let’s face it, kids birthday parties just aren’t what they used to be.

Back in the day, it was a simple gathering of a few close mates to hang out after school. Fast forward to the present, birthday parties are big, loud and commercialised. Gifts used to be simple and handmade. But lately there is an increasing trend of giving gift cards.

Elson Goh, from EG Financial Services, joined Mike to discuss the simple measures you can consider to reduce the impact on your family’s finances.  As a nation we spend $19.8B on gifts each year, with a national average of $123 a month! Almost 50% of people buy one or more gifts each month.

Average giving per gift:

  • Weddings $137
  • Birthdays $50 for a child and $66 for a teenager.
  • Christmas $93 ($117 young families)

Elson suggests considering the value of your friendship and how best you can express it. Try to buck the trend and bring back homemade gifts. If more people do it, the culture will change.

How much do you spend on gifts? Let us know your thoughts by texting or messaging us on socials. Listen to the full chat below!

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