AP NEWS

How Much Do Grandparents Spend on Holiday Gifts? New Study Has the Answer.

November 27, 2018

Chicago, Il, Nov. 27, 2018 (GLOBE NEWSWIRE) -- Just in time for the 2018 holiday shopping season, fintech firm OppLoans has released a new nationwide study that examines grandparents’ holiday spending. Based on results from over 1,700 grandparents surveyed nationwide, OppLoans found that grandparents spend an average of $218 on gifts per grandchild. Researchers at OppLoans surveyed grandparents in all 50 states (plus Washington D.C.) and found a wide variance in spending from state to state. Grandparents in Oklahoma reported spending the most ($339 per grandchild), while grandparents in Nebraska ($93 per grandchild) spent over three-and-a-half times less! The survey also asked grandparents whether they felt their gifts were appreciated by their grandchildren. A whopping 80 percent said their gifts were appreciated, while only 4 percent said that their holiday gifts weren’t appreciated at all. 76 percent of grandparents who responded said they had no plans to ever stop giving gifts to their grandchildren. Among respondents, grandparents reported spending less and less money on gifts as they aged. Grandparents aged 35-44 spent $312 on holiday gifts per grandchild, while grandparents aged 45-54 spent $248 per grandchild, and grandparents who were 55 and older spent $179 per grandchild. The temptations to overspend during the holidays can lead parents, grandparents, and singles into racking up high interest credit card debt. That’s why OppLoans has published their survey results alongside some handy money management tips from recognized finance experts. Check out the full research results, complete with a shareable infographic, at OppLoans.com! About OppLoans OppLoans is one of the highest-rated online lenders and service providers in the industry. With fast funding, total transparency, and unmatched customer service, OppLoans provides non-prime borrowers a reliable alternative to payday lending. For more information regarding OppLoans, please visit the OppLoans website at OppLoans.com or email media@opploans.com.Opportunity Financial, LLC130 E Randolph St, Suite 3400Chicago, IL 60601

Attachment

-- opploans_grandparents_spending

John O’Reilly OppLoans media@opploans.com

AP RADIO
Update hourly