UK parents spend a fortune on kids' parties

New research by American Express has discovered parents spend an average £87 throwing their child's first birthday party. 25% of parents spend more than £100 on the party, with one in ten of these spending more than £150.

The average spend on birthday presents is £84, rising to over £125 for one in six parents.

And what about the cost of attending other children's celebrations? The average family receives seven invitations per child and spends an average of £7 per gift, adding up to £49 a year. So for the average family with two children, the cost of partying totals almost £450 every year.

These findings follow news yesterday that personal debt in the UK is double the European average. According to business research firm Datamonitor, the average British resident owes £3,175, and unsecured UK lending, such as credit cards, was £216 billion in 2005 - more than a third of all new non-mortgage borrowing in Europe.

Whatever happened to jelly and ice-cream?

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