WEST PALM BEACH, Fla. — Between inflation and job uncertainty, a new survey shows that for many people, the end-of-year holidays are shaping up to be stressful.
CouponFollow found 1 in 5 people are planning to forgo gifts this year. The same amount say they do plan to participate in gift giving, but will cut back on holiday spending, and will give more meaningful gifts.
Stress seems to be sneaking up, with 20% of those polled saying they are anxious or overwhelmed about the holidays this year. The study shows Gen Z is more likely to overspend than other age groups.
One in seven of those surveyed say they will cut back on holiday spending to pay down debt or boost their savings.
The maximum amount the average shopper says they'll spend on a single gift this year is $250.
To read how holiday spending could impact travel and the average amount people are budgeting for holiday spending this year, you can find the full CouponFollow study here.
