Americans put far more on their credit cards in December than they do in any other month. But it's not just because of holiday gift-giving. And this year, a number of studies show, they’ll probably be spending even more.
A survey released this year by Deloitte found that Americans plan to spend on average $426 on gifts for others this year. That’s a lot, but it's less than half of their total holiday spending. We spend hundreds on non-gift items like holiday decor, entertaining and gifts for ourselves.
Survey results from The National Retail Foundation this year also found high levels of self-gifting: Nearly six in 10 Americans plan to buy gifts for themselves, spending an average $139.61, up 4 percent from last year. That marks the second-highest level of personal spending in the survey’s 13-year history.