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The average New Zealander is expected to spend $600 on Black Friday, according to a PriceMe survey, with more than half saying they will be buying Christmas gifts.
But those unsure how much to spend on presents were not alone, economist Brad Olsen said.
The same question was pestering him last week, so he turned to Instagram for answers, creating a poll asking his followers how much they were planning to spend on Christmas and birthday gifts for close friends and family.
More than 500 people responded.
"About half of all of the respondents to my unscientific survey or poll suggested that between $51 and $100 is the usual amount that you should spend on a gift for friends or family," he said.
Meanwhile, nearly 200 of Olsen's Instagram followers wanted to spend between $26 and $50.
"Thirty-nine percent of respondents in my unscientific poll chose that."
About 40 people told him they were looking at spending more than $100 per gift.
Olsen said the results of the poll surprised him.
"I might have expected a few more people to opt for the much cheaper than usual gift size, $0 to $25 given all of the challenges out there at the moment, but a lot of people highlighting that it really depends on if they can find the right gift or not."
On the streets of Auckland, opinions on how much gifts should cost ranged from the very cheap to the very expensive.
One man in Auckland CBD told First Up said he would splurge on his mum because she was a generous gift-giver
He was planning to buy her something for about $200.
The most expensive gift she had ever given him - which was also the most expensive gift he had ever received - was $1000, he said.
Many others believed that presents should not cost more than $20.
One father said he would make his daughter a present, but would not spend more than $20 on materials.
And for those with a lot of people on their list, $2 shops were a popular option. One man with 12 nieces told First Up his budget only allowed him to shop there.
Social media influencer Rachel Luetele runs an Instagram account on budgeting tips, called The Savvy Saver.
She said a good starting point was sticking to a list of what your recipients would like.
"Have a list - figure out what your children actually need and what they would love, and don't just worry too much about spending a certain amount of money. Focus more on what they actually would find valuable and enjoy, and focus on that."
Next, people should get creative with the shopping, she said.
"Look secondhand, there is absolutely nothing wrong with going to secondhand stores and buying things to DIY and make.
"And then if you can't find what you need, then definitely research online. Wait for the sales. Black Friday is a really good sale, obviously."
The Mental Health Foundation said money and the expectation on people to spend was one of the biggest causes of stress at Christmas time.
It was reminding people not to forget about all the free, festive community events that could make the season a bit more magical.
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