Nearly Half Of Americans Feel Pressure To Overspend During The Holidays

November 29, 2018

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Spend, buy, debt. These are words that many Americans associate with the holidays.  However a new survey finds a growing number of people are fed up with the pressure. 45% of gift shoppers feel pressured to reach deeper into their wallets than they’re comfortable with, according to the 2018 Bankrate Holiday Gifting Survey. Although the vast majority of us won’t opt out of presents, 13% percent of respondents said they were willing to skip or boycott gift giving altogether during the upcoming holiday season. 64% of people say they stick to a budget by limiting gifts to immediate family members. Parents feel the most pressure with 54% of respondents with children reported feeling pressure to overspend during the holidays. Overall, spending is expected to reach record levels during the holiday season, moving past the $1 trillion mark for the first time, according to one estimate. Consumers are expected to spend an average of $638 on gifts during the holiday season, according to the National Retail Federation and Prosper Insights & Analytics.

SOURCE: Bankrate

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