Tuesday, November 15, 2016

Why the Holidays Are So Expensive

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.

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