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.