According to the American Express study, a quarter of parents spend over £100 on their child’s first birthday party with an average of £84 on presents.
However, once costs for invites to other parties and the necessary gifts are added up, the firm claims that the average family with two children spends £450 each year on parties, which may take many into debt.
“Throwing parties can be a joy for parents and their children alike, however many families find that the cost of entertainment, venues, catering and presents soon adds up,” said Kate Harris, vice president of UK partnerships from American Express.
Clowns and face-painters can add to the bill that parents have to pick up and Peter Robertson of Twizzle Parties said that parties are becoming more extravagant.
While he said that many parents did not object to cost, proper debt management can mean that parents can enjoy the party nearly as much as their children do.