New York parents are getting ready to make their kids' Christmas dreams come true. They're feeling the excitement and anticipation building up. But one big question is on their minds: how much should they spend on their children's Christmas gifts this year?

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Kids are bombarded with advertisements and trends that influence their Christmas wish lists. From the latest toys to trendy fashion items, parents often feel the pressure to keep up with their kids' desires. But what does all of this mean for their spending?

According to a recent survey conducted by Statista, almost one in 10 parents (9%) say they plan to spend $25 or less on each child for holiday gifts. Meanwhile, a significant portion of parents (35%) plan to spend between $50 and $150 per child for holiday gifts. Additionally, 12% of parents indicated that they have budgeted between $150 and $200 per child.

The economic climate and rising inflation have led many parents to rethink their holiday spending. With the high cost of living in New York, families might need to prioritize essential expenses over extravagant gifts. Some parents are taking a more budget-conscious approach by setting spending limits or participating in gift-sharing programs. They want to ensure their family has a memorable holiday without breaking the bank.

In recent years, there has been a shift towards valuing experiences over material possessions. New York State offers plenty of exciting activities during the holiday season, and parents are now allocating a portion of their budget to create lasting memories. It's not just about expensive gifts anymore.

Giving back is also an important aspect for many parents in New York. They want to teach their children the value of generosity which is why they are increasingly involving their kids in charitable initiatives like toy drives or volunteering at local shelters.

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