Photo courtesy Fauxen
Every year since 1984 PNC Wealth Management has compiled the cost of Christmas from the 12 Days of Christmas song. Adding up one of every item on the list yields a 9.2% increase over last year. The total cost of these 12 items is $23,439.38. This is almost double to original cost calculated in 1984 of $12,673.56. You can find out more about this study in a fun, interactive presentation at their website. Make sure you’ve got a good connection speed though.
So, did you prepare your budget for a 9.2% increase over last years gift giving? Have you made any changes to how you give this year? Some families have lowered the price cap they place on gift exchanges among family. Other families are only doing exchanges with the kids, not the adults. I imagine many families are just blazing forward and hoping to make up for it next year.
I’ve got good news for you though. The cost of family togetherness is the same cost as always, free. And the value remains unchanged at priceless. Don’t let the hustle and bustle and cost of the Christmas season stress you out and make you miss what the true value of Christmas is.