American Express reveals true cost of birthday parties

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American Express reveals true cost of birthday parties

Wed 17th Jan 2007

Throwing and attending children's birthday parties is costing the average British family some £450 a year, according to new research from American Express.

The credit card company found that as parents compete to make their child's birthday party the best in town the costs can soon add up.

Indeed parents were found to spend an average £87 on throwing their child's first birthday party thanks to the cost of venue hire, food and entertainment. On top of this they spend an average £84 on presents for their child.

But it's not just throwing parties that can be expensive. American Express found that attending them can also hit parents' pockets hard.

With the average child receiving seven invites per year and their parents spending an average of £7 per gift, going to birthday parties costs £49 per child each year.

For a family with two kids all of this adds up to a whopping £450 a year, which can have a serious effect on their finances of they fail to budget for it.

While no parents would want to deprive their child of a birthday party it could be a wise idea to rein in the spending, especially since American Express' research found that ten per cent of parents only throw lavish children's parties to impress their friends.

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