Tis’ the season of egg laying bunnies and broken piggy banks.
In a little more than a week, many of us will be stuffing plastic eggs full of money. Where we aren’t giving it away, we are stocking up on things that cost money. Millions of Americans will be celebrating Easter with their wallets doing a great deal of heavy lifting. There are traditional brunches to attend, candy to buy, gifts to hand out and spring clothing to don. When all is said and done, Easter adds up to be the third most expensive holiday of the year.
How Much Does Easter Cost in 2013?
According to the National Retail Federation, the average consumer will be spending more than $145 this Easter. In total, holiday shoppers will shell out a combined $17 billion to celebrate. This brings Easter just behind Mother’s Day in average budget size. Last year, the average Mother’s Day cost was just above $150.
Who Spends the Most Money?
As with all other holidays throughout the year, men spend the most money compared to women. The average male plans on dropping nearly $157 while the average woman will only be spending a fraction of cost, a mere $134.
Most holidays show that the youngest adults plan the steepest budgets, but not for Easter. Those middle aged around 34 to 45 have the larger budget at $177. As per usual, the older crowd, aged 65 plus, spend the least by planning on around $106.
Why is Easter so Expensive?
Easter is a particularly challenging holiday in terms of controlling your budget. Most holidays only have one or two items that bloat a consumer’s budget. Maintaining your budget normally involved controlling those one or two items. However, Easter has a number of large spending considerations.
For example, food and eating out earns the title of largest spending category with an average planned expense of $45. Food isn’t the only cost worth considering. Combined, the next three largest spending categories (clothing, candy and gifts) total an expense of about $70.
What You Can Do to Save Money?
Although shopping for several large purchases causes a unique challenge, it can also be an opportunity. Many common Easter items provide several ways of savings whether it’s a group discount, a coupon or a sale. However, the secret to success is careful planning and starting early. Last minute shoppers often overpay because they’ve missed out on prior deals. If you want to control your wallet, start by planning your purchases and shopping earlier. Good offers and deals come along all the time, but you need to be patient in waiting for them to appear. Given enough time, a good money saving option will come your way.