How much will the American average pass this holiday season?

The holidays are not free: the American average will spend over $ 2,000 this season, according to a recent study.

The survey of 2,000 Americans celebrating a winter holiday examined the cost of the holiday season – as well as how Americans were influenced by the challenging financial climate of 2024.

According to the results, the most expensive holiday category is transportation as those planning to travel this year (64%) will speak on average $ 846.

“Putting on” holidays is the next most expensive ticket: answers reported that they will spend $ 658, on average, in this category. The most expensive items include holiday food and refreshments ($ 155), throwing holidays ($ 123) and holiday and clothing ($ 107).

The gift category is another on the list. On average, Americans plan to talk $ 559 about their loved ones this year, with most of the money spent on children ($ 117) and partners ($ 92).

Ordered by Achache and carried out by Talker Research, the research confirmed what many have felt this year: for most respondents (61%), 2024 is in their five best challenging years ever.

Maybe because of this, more than four in 10 Americans (43%) “will leave” this holiday season and go less this year than in previous years.

Most (65%) are stressed for their vacation costs this year and 73% say their financial stress removes their season satisfaction.

For nearly one in five (17%), their financial anxiety completely destroys their season’s pleasure.

Looking forward, one fifth (20%) believe that they want to recover financially from the 2024 holiday season to May 2025 or later.

And seeing how Americans plan to pay for the holidays this year, the answers reported that one fifth of their holiday expenses (20%) will be put on a credit card.

In fact, 28% already have or plan to open a new loan line to cover their holiday expenses.

“While holidays can be one of the best times of the year, they can also be the most stressful,” said Brad Stroh, co -founder and chief executive at Areade. “And while most want to put money to make the season special for their loved ones, there can be pressure from internal and external sources to talk beyond your reach. It is important to take a step back and appreciate habits your spending during the holidays. “

According to the research, 37% of those who celebrate holidays have been debt in previous years in holiday expenses. And almost one in five (17%) think they are likely to enter the holiday debt this year.

Seeing how this affects the existing debt, the average unsafe debt of the Americans (collateral -supported debt) reaches $ 23,554. However, a quarter (25%) said they are not even sure how much they owe.

The deepest excavation, 31% of those with debt reported that it increased this year and 36% said it stayed the same. Otherwise, only 14% report that their debt is reduced this year.

Then examining how this affects daily expenses, the answers said they spent more on groceries (48%), rent or mortgage payments (30%), insurance (29%), medical bills (26%) and daily transport (26%) to 2024 compared to 2023.

And seeing where they had to cut, Americans have spent/contributed less to their discretionary budgets (39%), emergency savings (26%), pension savings (20%), gifts (31%) and Travel (25%) to 2024 compared to 2023.

“This study shines a light on how such a challenging financial year is affecting the holiday season and how many people are able to enjoy it,” Stroh said. “For people who are fighting this season, or just in general, there are many ways to take mere steps to move on their financial situation. These can go from creating and respecting a budget to talk to a financial expert to take a break from your credit card. “

Survey Methodology:

Talker’s research surveyed 2,000 Americans celebrating a winter holiday; The survey is ordered by Achache and administered and receiving online by Talker Research between November. 5 and November. 8, 2024.