The Value of Giving Gifts

Each year PNC Bank releases a Christmas Price Index that tabulates how much it would cost to give the gifts mentioned in the lyrics of the song “The 12 Days of Christmas.” Each year’s list looks at the prices with costs adjusted for the current economy and this year’s list did factor in the pandemic. adds, “PNC also calculates how much it would cost if you bought each of the items every time they’re repeated in the song.

That would put you back $105,561.80!!!”

For a number of items, the cost has not changed this last year. The items on the 2020 list that have the same price as they did in 2019 include the partridge in the pear tree, four calling birds, and eights maids-a-milking, and seven swans-a-swimming. Although the swan price stayed the same and the price of six geese-a-laying went up by 35% and is now $570, the swans cost way more than the geese. At $13,125, the swans are the priciest gift on the list.

It is fun to imagine what it would cost to give “The 12 Days of Christmas” gifts in today’s dollars. It is sobering to think about how all of the music and performance-related gifts would be hard to give since entertainment venues are closed and you’re not likely to invite numerous strangers to perform in your home. In this very tough year, it is also useful to contemplate value. Cost is a price that is set for you but value can be your perspective on how much a gift means to you. Think about what you value and what you want to give. And, depending on what you get, you can try to see the value in it whether it suits your taste of not. Many people are facing financial difficulty this year so they will not be in a position to give.

We wish you happy, healthy, and safe holiday season this year.

©Bring Clarity to Your Finances™. The Value of Giving Gifts is a post from Bring Clarity to Your Finances™

About the author

Claire Emory, MBA, CFA, CFP®

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