Make Ends Meet: Holiday Shopping

This year some people’s attitudes and habits are changing about holiday spending.
Published: Dec. 5, 2022 at 7:06 PM EST
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LOUISVILLE, Ky. (WAVE) - Retailers have been ready to deck the halls much earlier this Christmas season.  They’ve been hosting holiday sales and bumping up discounts to move merchandise.

It’s all to make sure that Americans don’t cut back on non-essential spending due to record inflation. For many, just getting daily essentials for the family has been hard with inflation at an all-time high.

Now many people need to find a way to put happy in the holidays if they are planning on keeping gift giving as part of their family tradition this year.

This year some people’s attitudes and habits are changing.

Matt Brannon with Clever Real Estate shared the findings of a new Clever Real Estate poll of 1,000 Americans.

“This season, we expect that people will be trimming not only their trees but their holiday budgets,” Brannon said.

According to the study, 61% of holiday shoppers said they will change their holiday spending this year because of inflation.

“76% of Americans said they wish there was less pressure to spend money on holiday gifts, and 50% of Americans said they wish gift giving wasn’t a holiday tradition,” Brannon said. “They’d be OK with that.”

The poll showed the average shopper plans to spend $851 on holiday gifts this year, down from the $893 they normally report spending.

That’s still a lot of money considering consumers are forced to spend more on gas, groceries, utilities and everything else affected by higher prices.

“We asked, ‘How are you feeling about the holiday shopping season?’” Brannon said. “And even though a lot said excited, one in three said they’re stressed out about holiday shopping. 39% said they can’t afford to do holiday shopping this year.”

Ho, ho, hold on if planning on spreading a little holiday cheer for loved ones with a gift or two.  Smart shopping and spending always makes the most sense.

First, think before using a credit card.

“If you’re the type of person who sometimes has a problem paying off their balance each month, consider using debit cards, especially for less expensive gifts,” Brannon said.

Second be like Santa, make a list and check it twice.

“37% of people told us they don’t stick to a budget when they holiday shop, and that’s a big mistake,” Brannon said. “It’s very easy to over shop.”

Third and last, remember good things come to those who can find a deal.

“Try to save money were you can,” Brannon said. “These sales are being offered now. Take advantage of them.”

There are also great online tools to help save money. Websites can offer huge savings at major department stores, grocery outlets and other retailers through coupons, exclusive offers, and cash rebates. People can save cash without clipping coupons.

Click or tap here for Clever Real Estate’s 2022 holiday shopping data.