Survey Shows More Than Half of Americans Are Dreading Spending Money This Holiday Season

Tis the season to … not overspend! Half of Americans are “dreading” the holiday season as a result of their financial situation.

According to a new survey of 2,000 Americans, seven in 10 respondents (69%) said the holiday season should be filled with joy, but instead it’s the most financially stressful part of the year, according to Talker Research.

“The holidays are an expensive season for everyone, with costs piling up between gifts, food, travel and decor, but for Americans living paycheck to paycheck, the pressure is even greater,” said Erin Bruehl, vice president of communications at the financial tech firm Current. “After a year with economic challenges, including people still feeling the effects of inflation on the prices of everyday essentials, many Americans are especially worried this year about how they can afford to celebrate within their already tight budgets.”

Here’s how Americans plan to save money this holiday season:

▲ Limiting gift budgets (36%)

▲ Not purchasing any new decorations (36%)

▲ Skipping a big, expensive holiday meal (21%)

▲ Not purchasing a Christmas tree (17%)

▲ Doing a “gift-free” holiday (14%)

▲ Celebrating virtually (13%)

▲ Celebrating on an alternative day to avoid high ticket prices (10%)