Study Shows Holiday Shoppers Not Holding Back on Their Spending This Year

My wife and I were just discussing last night how much we’ll be spending this year on gifts for each other, our kids, other family members, and our friends. Everyone either discusses this or at least gives it some thought each year.

There are many factors in the decision-making process.

How much do we have saved?

How much are we in debt?

How much can we afford?

Many of us in New Jersey are freaking out over the high inflation. However, according to a new Deloitte survey, many of us are still going to spend, spend, spend.

The study shows that Americans will spend approximately one thousand six hundred and fifty two bucks during this holiday season. Their findings show that it’s the first time we’ve reached and passed pre-pandemic spending totals.

According to the poll, 95% of us are not concerned about our spending this year. Just two short years ago, only 88% of us were spending freely. This year, 75% of shoppers are ready to spend more and expect prices to be jacked up.

The poll also shows that we plan to take less time to do our shopping. Before the pandemic, we spent an average of 7 1/2 weeks to get it all done. This year shoppers hope to finish their shopping in under 6 weeks.

There’s also another factor that comes into play. People aren’t saving as much as they used to, and they’re feeling financial pressure with student loan payments being reactivated.

The survey shows that those polled are giving less gifts than last year, but spending a little more on gift cards.

As you’d expect, income plays a factor in spending. 26% of those making up to $100,000 say they’re not holding back this year. Additionally, 22% of those making over $200,000 will not allow their spending to be affected by the economy.

Most calls we received on the morning show said that they would be cutting back a bit this year. One woman did say she always splurges and plans to continue doing so.

Christmas is a time to visit family and friends and get away from the daily grind. The holidays can be a wonderful time, but they can also be very expensive. From buying lots of Christmas gifts for family and friends to having to pay for plane tickets and travel, holiday expenses can really add up. But, the good news is that there are some affordable Christmas vacations in the U.S.

One good thing about traveling during the winter months is that it's often the off-season for popular vacation destinations. Of course, the holidays are a busy travel time. That makes late December a difficult time to find a deal for travel. But, if you don't mind the cold and snow, some northern areas of the U.S. offer very good deals. That's true even during the Christmas season.

Some tips for finding a good deal for holiday vacationing include searching a lot of booking websites, comparing different hotel dates to find the most reasonable ones and finding bundle deals. Also, keep your eyes open for special deals on resorts and hotels that are just opening. That's because sometimes, during those opening months, new vacation spots try to attract a loyal clientele by offering special deals. One more tip is to search for airfare rates individually even if you are traveling as a couple or a group. If you put in a search for a group of tickets, the algorithms will often leave out information on one or two cheaper tickets being available. They'll just send you a group of tickets, sitting together, all at the same price. So, you might get a deal if you search for one ticket, instead.

So, what are the best affordable Christmas vacations in the U.S.? Here are some popular spots that won't break the bank.

Frankenmuth, Michigan, is the self-proclaimed Christmas capital city of the world. Okay, so many argue that Strasbourg, France, takes that honor, but Frankenmuth is close, and it's a lot cheaper to get there. No passport needed. The villiage's Franconian-style architecture has given it the loving name "Little Bavaria." Frankenmuth is also home to the world's biggest Christmas store.

Lancaster, Pennsylvania, is located in Pennsylvania Dutch Country, and it offers a beautiful view of snowy hills and Amish country. It's a very old-fashioned type of town, making it a charming winter getaway. There are plenty of fun, holiday-type things to do in Lancaster that won't break the bank.

You might never guess, but Las Vegas, Nevada, is a great spot for an affordable holiday trip. Think about it. Most people wouldn't think to go to "Sin City" for Christmas. Of course, it's much less the "sin" part these days, as Las Vegas offers fun activities for the whole family.

Charlotte, North Carolina, is a great spot to visit in the holiday season, because it's not as crowded as other times during the year. It's also less expensive to visit during the holidays and offers beautiful decorations during Christmas. Don't forget the many holiday markets.

Fort Myers, Florida, is a popular destination for snow birds. But, that's doesn't mean to skip it during the holidays. If you want to get away from the snow and ice, Fort Myers offers a great escape over Christmas and for prices that are more reasonable than in many other areas of Florida.

Boston, Massachusetts, gets cold in the winter, but it also has that classic Christmas charm. It's a big city with a smaller city feel during the holidays. What's more, it's a more affordable winter vacation destination than many other areas, and you won't have the fight the crowds.