Gifts Are Not the Only Reason the Holidays Are So Pricey
Hope you're saving money, because Christmas is going to do its best to bankrupt you this year.
A new study by the consulting company Deloitte found the average person will spend almost $1,500 on the holidays this year. Here's how that breaks down:
- $487 on gifts.
- $348 going to holiday parties.
- $212 hosting holiday parties.
- $182 on clothing for yourself or your family that isn't a gift.
- $124 on decorations.
- $110 on random other expenses.
That's a total of $1,463, only one-third is going toward gifts. That total doesn't include things you buy for yourself. Half of people say they plan on getting themselves a gift or two while they're shopping.
On a related note, another survey found that 71% of people say the thing that gets them into the "holiday spirit" is shopping.