Parents Spend How Much on Birthday Parties?

A recent study found the average parents spends $450 on a birthday party for each one of their kids. The most expensive thing is the entertainment, followed by the food, the decorations, and the party favors (loot bags). Over 70% of parents say they plan to cut back, but a majority of them say they're pretty sure they won't be able to. Did I mention they also spend an average of $250 on gifts? Add it up...$700!!! That's a small fortune.

Oddly enough, a big reason for spending all that money is to show off and brag. A whopping 81% of parents say they want to make sure their kid's party is better than all the their friends parties.

You can read more at Daily Mail.