Americans most likely to spend the most on their friends’ 30th birthday
How much does it cost to be a friend in today's world? A recent survey from TopCashback.com finds 72% of Americans spent more money on their best friends — and they really splurged on certain milestone birthdays.
Personal finance and shopping expert Rebecca Gramuglia said the survey found 26% of Americans plan to spend between $21 and $50 on their closest friend's birthday; 24% plan to spend between $51 and $100.
Turning 30 is a major milestone, said Gramuglia, and 16% of Americans tend to spend more when their bestie hits that age. The BIG 3-O is followed the 21st and 40th birthdays.
Then there is the "just because gift." Gramuglia said 52% plan to spend between $1 and $100. Last year, 68% of Americans spent between $1 and $100 on these type of gifts.
The survey also finds that 82% say they never stop spending money on friends simply because they feel they weren't spending the same amount of money back. About 92% say they never lost a friendship after refusing to spend money on something such as a wedding or birthday. On the flip side, 93% say they never lost a friendship after the friend refused to spend money on a wedding or a birthday.
Gramuglia said these findings show that the quality of friendship is greater than any gift and it may not be defined by money.
If you do however plan to splurge on a gift for a friend, she said it's important not to put yourself in financial hardship.
Save wherever you can. If your best friend is obsessing over a gift in particular or wants to go somewhere fun for their birthday, look to see where you can get it for less. Do comparison shopping online and stack the savings by shopping through a cashback site.
Make your BFF your "money buddy." If you find yourself spending way too much money on unnecessary dinners, gifts, drinks and more, reflect on your spending habits. Talk to the best friend and let them know about the financial situation.