Business & Tech
How Much Money Do You Plan To Spend This Holiday Season?
One survey suggests nearly two-thirds of Americans have no budget or set limit
With state and national unemployement figures hovering at 10.2 percent and 9 percent, respectively, it would be understandable if people planned to ease up on shopping this holiday season.
But collectively, we plan to spend more and many of us won't even have a plan for how much we will spend.
Forty-nine pecent of respondents in a survey express being "much more" or "somewhat more" concerned about their ability to afford holiday-related expenses, says the National Endowment for Financial Education, a non-profit group.
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Even so, 63 percent of survey respondents will not set or plan to have a budget for the holiday shopping season, which kicks off the day after Thanksgiving with the frenzy of Black Friday.
American Express' Spending & Saving Tracker Survey found Americans plan to spend about $831 on presents this year, an increase of $121 from last year.
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How much do you plan to spend this year? Are you doing any budgeting or belt-tightening this year?
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