While a lot of people go all out during the holiday season, it seems more and more people plan to rein things in when it comes to shopping for presents this year. A new poll by COUNTRY Financial Security finds that while 50% of people plan to spend the same amount of money on presents this year, 22% actually plan to spend less, and 10% don’t plan to spend any money at all.
Most Americans don’t really plan to go hog-wild with their holiday spending. In fact, 70% of folks say they have specific budgets for the holiday season, with 39% planning to spend less than $250, or no more than $500, while only 17% plan to spend more than $1,000.
As for who they’ll be spending the most on, children are the top priority. Overall, 34% of people plan to spend the most on their kids this year, while 19% will buy gifts for family members, 16% for their significant other, with 3% buying for friends and 1% buying for their pets. Of course, most people also treat themselves, with 7% saying they will spend the most money on themselves. As it should be!
Source: BizJournals