Kids' birthday parties are big money! A new study found that on top of shelling out $250 on gifts, the average parents spend about $450 on each of their children's birthday parties. I am a below average parent, thank you Family Dollar.

Short of hiring Beyonce, here's where that $450 goes:

  1. Entertainment
  2. Food
  3. Decorations
  4. Party Favors

No wonder we can't afford to send our kids to college, we're still paying off their thirteenth birthday party! Want to know how old I am? When I was a kid we would ride bikes and have cake with the neighbors' kids. That was a birthday party-and we liked it!

All of this overspending comes down to one upsmanship on the parent's part. 81% of parents admit that they want their kid to hold bragging rights for "Best Birthday Party Ever, Ever." In the study 71% of the grown ups said they would like to scale it back and cut costs for the next party, but admit that when it comes down to it, they probably won't.

Have you been to an extravagant party for a child? Tell us about it on our Fan Page or tweet #birthdaybroke

I re-use our Dollar Store party hats for everything from Easter to baby showers. They are just fun.

Celeste