People across the country are getting into the holiday spirit right now, just like clockwork, but the festive fervor might be a bit hollow for many folks this year due to financial concerns.
The holidays aren’t doomed, though, as savvy consumers can still take steps to ensure they get everything they need without derailing their finances.
For example, budgeting in advance can help you get organized and make a sound plan, and more than 4 in 5 people say it really pays off during the holidays.
- The Grinch Economy: Nearly 2 in 3 Americans say the economy will make the holidays less fun this year.
- Holiday Budgets Tighten: 85% of people will spend the same amount or less on the holidays this year compared to last year.
- Swiping to Celebrate: 33% of people will apply for a new credit card to help with holiday shopping this year.
- Charitable Cuts Coming: 3 in 5 Americans say their charitable giving is affected by inflation.
- Budgeting Brings Relief: More than 4 in 5 people say budgeting in advance helps during the holidays.
- Gifts Don’t Equal Joy: 61% of Americans say they would enjoy the holidays more if people didn’t exchange gifts.
Taking advantage of credit card sign-up perks like initial bonuses and 0% introductory APRs can lead to big savings as well, and around one-third of people say they’re taking this route to savings town this holiday season.
Plus, getting creative and making a thoughtful gift yourself doesn’t have to cost you much more than a bit of time.
