HOBOKEN, N.J.–With Father’s Day approaching and Mother’s Day having just passed, a new survey offers insights on how each of the special days impacts consumers from a financial standpoint.
Surveying 500 respondents who said they had a mother and father (or a male and a female guardian) while growing up and who are still alive today, LendEdu said it uncovered some pretty interesting trends.
Among the findings:
- On average, respondents expected to spend $75.02 on a Mother's Day gift in 2018
- On average, respondents expected to spend $74.13 on a Father's Day gift in 2018
- Mother's Day was generally perceived as the more important of the two days, but the majority of respondents were in favor of combining the two days into one "Parents' Day," which has already existed in the U.S. since 1994 and occurs on the fourth Sunday of July
While 91.4% of respondents said they have spent money on a Mother’s Day gift, of those who had not, 23.26% of respondents answered, "We do not talk or we are not close”; 34.88% of respondents answered "I do not have enough money of my own”; 27.91% of respondents answered "My mother or guardian does not want a present,” and 13.95% of respondents answered "I do not celebrate Mother's Day.”
Responses were similar when asked the same question about Father’s Day.
When asked, “If you were a father or mother, would you expect to receive a gift from your children when they can afford a present?” 48.8% of respondents answered "yes,” 20% of respondents answered "no,” and 31.2% of respondents answered "I do not care either way."
Full survey results can be found here.