True Cost Of Christmas

transcript

Toastmasters Power Speakers Club

#9309-77

The True Cost of the “12 Days of Christmas”

December 13, 2007

Overview

According to the 22nd annual survey, the cost of “The Twelve Days of Christmas” is $19,507 in 2006, a 3.1 percent increase over 2006.

Gift prices mirrored the U.S. government’s Consumer Price Index – a widely used measure of inflation calculated by the Bureau of Labor Statistics.

Study performed annually since 1984 by PNC Financial Services Group, Inc. (www.pnc.com), one of the nation’s largest diversified financial services organizations.

True Cost Graphic

Day 12

Drummers Drumming

12th Day Cost Summary

Cost for 12 drummers is now $2397.85, up 4.2% over 2006

Cost could be reduced, especially if the quality of the drummer is not a significant issue Check with local high schools or universities

Day 11

Pipers Piping

Cost is $2213.40 in 2007 versus $2124 in 2006, a 4.2% increase

Ditto from Drummers slide Check local high schools or universities

Day 10

Lords a Leaping

Lords with the ability to leap is a rare commodity

Obesity epidemic is affecting the supply and low supply dictates higher prices than usual

Cost in 2007 is $4286.06, up 3% over 2006 Cost does not include any legal fees or

litigation resulting from injuries incurred by leaping

Ladies Dancing

Ladies Dancing is now a hot commodity as a result of “Dancing with the Stars”

Fewer Ladies are available for dancing because they are teaching dance classes

Prices are up in 2007 to $4759.19

Maids a Milking

Maids-a-Milking got a raise in 2007 as a result of the minimum wage increase

Cost is up 13.6% over 2006 as a result Cost will continue to rise as minimum wage

adjusts One Maid was quoted as saying “It’s about

time! I was about to get a job at Walmart instead.”

Swans a Swimming

Cost of 7 swans-a-swimming is flat over 2006, at $4200

Swans usually mate for life, though "divorce" does sometimes occur, particularly following nesting failure.

Female swans typically petition the courts for more than $600 (the cost per swan) when divorce occurs

This cost was not included in the 12-Days Cost Estimate

Geese a Laying

6 geese-a-laying cost $360 in 2007, an increase of 20% over 2006

Geese are migratory birds, breeding in the far North and wintering much further South

Geese are plentiful in Alabama in Winter and, thus, can be obtained at lesser cost

PLEASE TAKE THEM!!

Golden Rings

Price is gold is very high in 2007, up 21.5% over 2006

The price of five gold rings now totals $395 but still nowhere close to 1989 prices, when the five Gold Rings hit an all-time high of $750.

Calling Birds

4th Day Cost Summary 4 Calling Birds (Canaries) cost $599.96, a cost increase of

21.5% over 2006, according to National Pet Chain, Petco. Canaries were first bred in captivity in the 1600s, after being

brought to Europe by Spanish sailors. Monks started breeding them and only sold the males (which

sing). This kept the birds in short supply and drove the price up. Eventually Italians obtained hens and were able to breed the

birds themselves. This made them very popular and resulted in many breeds

arising and the birds being bred all over Europe.

French Hens

3rd Day Cost Summary

French Hens cost $45, same as 2006, according to the Cincinnati Zoo

PETA protests have made importing the birds from France more difficult

The birds refuse to speak English once they arrive in the US, thus a translator is often required

American hens say the French hens are snooty and lack good work ethics

Turtledoves

2nd Day Cost Summary

2 Turtledoves cost $40, according to the Cincinnati Zoo, same as 2006

Turtledoves are migratory birds based on various parts of Europe, spending its winters in southern Africa.

In the British Isles, France, and elsewhere in northwestern Europe it is in severe population decline.

Of Partridges and Pear Trees

1st Day Cost Summary

The partridge is a medium-sized bird between the larger pheasants and the smaller quails.

Cost of partridge is $15, according to the Cincinnati Zoo, same as 2006

Pear Tree costs $150, up 15.4% over 2006, according to Waterloo Gardens, a Philadelphia nursery Pear trees are plentiful in Alabama and cost is

Cost Summary (1)•As the only unskilled laborers in the Christmas Price Index, the eight Maids-a-Milking make minimum wage, and have not had a raise since 1997.

•This year, Congress increased their wages by 13.6 percent; bringing the cost of eight Maids-a-Milking for one hour of work to $46.80.

The cost of most performers in the index rose a modest 3 to 4 percent, due primarily to an increase in the performers’ compensation.

Cost Summary (2)

The price of five gold rings now totals $395, a 21.5 percent increase over 2006 prices, but still nowhere close to 1989 prices, when the five Gold Rings hit an all-time high of $750.

Among the feathered friends in the Christmas Price Index, the most notable increase was a 20 percent change in the price for six Geese-a-Laying, provided by the National Aviary.

Christmas More Expensive than Ever

As part of its annual tradition, PNC Wealth Management also tabulates the “True Cost of Christmas,” which is the total cost of items gifted by a True Love who repeats all of the song’s verses.

This holiday season, very generous True Loves will pay more than ever before – $78,100 — for all 364 items, up from $75,122 in 2006.

This 4 percent increase is about even with last year’s 3.5 percent increase.

Online Shopping

Today, with the help of the Internet, it’s easier to find the goods and services listed in the song.

However, goods and services from the survey that are purchased on the Internet tend to be more expensive than those purchased in a more traditional transaction, mainly due to added shipping costs.

This year, the trends identified in the traditional index are repeated in the Internet version, with overall growth of 3 percent, very close to the 3.1 percent in the traditional index.

Detailed Costs

Ways to Save Money?

Many True Loves are considering outsourcing the labor requirements overseas or using illegal immigrants

Bird substitutes or alternate bird suppliers 5 Golden Rings can be purchased in Hong

Kong for pennies on the American dollar Gold-filled? 10K Gold?

True Cost Of Christmas

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