Research by the Financial Planning Association (FPA) to mark Financial Planning Week, which runs until Sunday 25 August, found the average Australian spent $100 each month on presents.
Out of 1,000 people surveyed, an average of $437 was spent on their partners, $361 on their child and $115 on their pet each year.
A quarter of pet owners said they bought their pet a present at least once a month or more, particularly those in their 20s or 50s.
Broken down by gender, women spent $454 on presents for their partner while men spent slightly less at $419 and women were more likely to bulk buy or re-gift presents than men.
The FPA said 73 per cent of this spending was on unplanned gifts, indicating the need for a budget to allow for unexpected spending.
FPA chief executive, Dante de Gori, said: ““There’s literally billions of dollars of household spend that is simply not budgeted for by nearly three in four Australians (73%) across genders, generations and geographies.
“That’s an obvious opportunity to increase our nation’s financial literacy and awareness of the benefits of budgeting, financial planning, and giving in a way that brings joy without debt or regret.”
