December is coming and that means one thing: The Christmas season begins. At this time, the streets are decorated with Santa Claus hats and Santa Clauses The stores are at full capacity. This era can have a negative impact on a part of American society economic requirements bring the data with them.
Accordingly a survey carried out by the banking system Currenty vs Talker Research carried out on 2000 people, 54% are afraid of the holidays for the associated costs.
In this sense, seven out of ten Americans That’s what they claim The Christmas season is one of the most stressful of the year. on a financial level and that therefore 58% of respondents are not satisfied with the arrival of the Christmas.
54% of respondents said they will make “sacrifices.” or reduce costs the holidayswhile the 76% will change the way they celebrate Save money.
While 36% will set a strict budget limit for Christmas, One in seven Americans doesn’t buy gifts and 17% will not have a tree at home or prepare dinner, which would be costly.
“The holidays are an expensive time for everyone as expenses on gifts, food, travel and decorations add up. But for Americans living hand-to-mouth, the pressure is even greater.”said E.Rin BrühlVice President of Communications at Current.
In another survey by Speaker research and on behalf of Beyond financeslaid that down 31% of the 2,000 Americans surveyed plan to take on debt this holiday season.
From this group, 52% buy at least one Christmas present out of “duty” rather than a genuine desire. The average standard spend per person is around $250.
“The financial fear we are seeing is not just due to economic uncertainty, but to complex and deep-rooted emotions,” said Dr. Erika Rasure, Senior Financial Wellness Advisor at Beyond Finance.
“People feel torn between the desire to create joy and the guilt of knowing they can’t afford it. When cultural norms, family traditions and social media compound these pressures, overspending becomes emotional rather than rational,” he added.
Some groups are under more pressure than others. 64% of Generation Z people feel more pressure when giving gifts compared to Millennials (66%) and Generation X (50%).
From a love perspective, people who have a partner tend to spend more out of obligation than those who are single. According to the survey 47% of people who are not in a relationship They spend up to 10% less than couples.
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