More than half of 2024 holiday shoppers, or 55%, felt stress at the costs associated with the season, according to a survey conducted online in September by The Harris Poll on behalf of NerdWallet.
Still, 32% of consumers thought it was important to purchase holiday gifts and experiences to show their love for family and friends, despite the expenses, the survey found.
"This builds a level of almost manic euphoria and gives us permission to ignore a spending plan, achieve instant gratification and worry about the aftershocks later."
To that point, 10% of holiday shoppers this year were considering tapping their emergency savings for gifts, according to NerdWallet.
To avoid overspending during the holidays, people need to plan ahead and create a spending budget, experts say.
Persons:
Carrie Rattle
Organizations:
Finance, Biden
Locations:
NerdWallet, New York