Holiday Spending and Your Budget

Holiday Thimming The holidays are here, and as everybody knows, building a budget and sticking to it can be especially hard during the holiday season. So how is the average American cutting costs this year? How Ane We Spending?" 467. Will Spend LESS 371 Will Spend the SAME 87. Will Spend MORE ЧI. WON'T SPEND ANYTHING While a number of Americans are spending less, the average amount spent on the holidays is down just 6% from 2012.2 Yean Overage spending Percent Rise/Fall 2013 $801 - 6% 2012 $854 + 32% 2011 $646 - 2% 2010 $658 + 58% 2009 $417 - 3% What Are We Spending? Using cash on hand for your holiday spending is a smart way to avoid added debt. Here's how cash-on-hand spending breaks down for many Americans: 347. Previous Year's Savings 271. Debit Cards 201. November & December Paychecks 187. Money Saved for Holidays 17. Other Meanwhile, 31% of Americans plan to use a credit card 12% will take advantage of layaway services And 4% expect to borrow money 317. D 127 CARD "1 Щ When Ane We spending? When does the average American get their holiday spending underway? 387. 297. 127. started their shopping prior to November 153 plan to start shopping after Thanksgiving? expect to wait until the last minute to do their shopping That includes nearly 3 times as many men as women that admit to a slow start on their shopping.3 17.37. 6.47 What Are We Trimming With nearly half of Americans spending less, some folks' gifts might look a little smaller this year... 637. Spending Less on Family Members (excluding children) 547 Spending Less on Non-Family Members 357 Spending Less on Children or Grandchildren As for the other holiday necessities, Americans will trim spending on... 47. 431. * 357 Decorations Holiday Travel Holiday Meals How Ane We Trimming?" Put simply: It's all about buying less. The average number of gifts purchased has dropped steadily each year since 2007, leveling out in 2013.4 25 20 15 23.1 21.5 18.2 16.8 14.7 128 |12.9 Year 2007 2009 2012 2008 2010 2011 2013 Meanwhile, nearly half of holiday shoppers are willing to put their spending on hold for sales.? 467. 237. 317. Wait for Sale Pay Full Price Depends on Gift CashNetUSA. Money's on the way® REFERENCES 1Harris Interactive Study sponsored by CashNetUSA. (2013, October). 2American Research Group. (Nov 15, 2013). 2013 planned holiday spending. Retrieved from http://americanresearchgroup.com/holiday/ Eleventy Marketing Group. (n.d.). 24 stats on consumer shopping and spending this holiday season. Retrieved from http://eleventygroup.com/site/2013/11/19/25-stats-on-how-consumers-are-approaching-shopping-spending-this-holiday-season/ Deloitte Development LLC. (2013). 2013 holiday survey results. Retrieved from http://www.deloitte.com/assets/Dcom-UnitedStates/Local%20Assets/Documents/us_Retail_2013HolidaySurveyResults_102113.pdf 10