How much will the North -American average this holiday season happen?

Holidays are not cheap: the North -American average will spend more than $ 2,000 this season, according to a recent study.

The survey at 2,000 North -Americans who hold a winter holiday examined the cost breakdown of the holiday season, as well as the way the North -Americans have been affected by the financially challenging climate of 2024.

According to the results, the most expensive holiday category is transport, as those who plan to travel this year (64%) will spend $ 846 on average.

“Putting” the holidays is the next most expensive ticket: respondents reported that they would spend $ 658 on average in this category. More expensive items include holiday food and soft drinks ($ 155), throwing parties ($ 123) and clothes and holiday dresses ($ 107).

The category of gifts is on the list below. On average, North -Americans plan to spend $ 559 on their loved ones this year, with most money spent on children ($ 117) and partners ($ 92).

In charge to achieve and carry out Talker Research, the investigation confirmed what many have heard this year: for most respondents (61%), in 2024 it is in its first five most challenging years.

Possibly because of this, more than four out of ten North -Americans (43%) are “lean” this holiday season and will spend less this year compared to the past years.

Most (65%) are stressed by their holiday costs this year, and 73% say that their financial tension comes from the enjoyment of the season.

For almost one in five (17%), their financial anxiety completely ruins their enjoyment of the season.

In front, a fifth (20%) believe that it will not recover financially from the holiday season from 2024 to May 2025 or later.

And seeing how North -Americans are planning to pay the holidays this year, respondents reported that one fifth of their holiday expenses (20%) will be on a credit card.

In fact, 28% already have or have to open a new line of credit to cover their holiday costs.

“Although the holidays can be one of the best times of the year, they can also be the most stressful,” said Brad Stroh, co -founder and CEO of Acheve. “And, although most want to put money to make the season special for their loved ones, there may also be pressure from internal and external sources to spend beyond your means. It is important to step back and evaluate your spending habits during the holidays.”

According to the research, 37% of those who celebrate the holidays have had debt in the past years due to vacation spending. And almost one in five (17%) believe that they are likely to go into holiday debts this year.

Analyzing how this affects the existing debt, the non -guaranteed average debt of the North -Americans (debt not guaranteed by guarantee) totalizes $ 23,554. However, a quarter (25%) said they are not even sure of the debt they have.

Excreasing more deeply, 31% of those who had debt reported that it has increased this year and 36% said they have remained the same. However, only 14% reported that their debt has declined this year.

Then examining how this influences everyday spending, respondents said that they spent more on groceries (48%), rental payments or mortgage (30%), insurance (29%), medical invoices (26%) and daily transport (26%) in 2024 compared to 2023.

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

“This study is light on how such a financially challenging year affects the holiday season and the number of people they can enjoy,” said Stroh. “For people fighting this season or, in general, there are many ways to make simple measures to advance their financial situation. This can range from establishment and grip on a budget to talking to a financial expert to pause your credit card completely.”

Survey Methodology:

Talker Research surveyed 2,000 north -Americans who celebrate a winter holiday; The survey was commissioned by Achitch, administered and Realled Online by Talker Research between November 5 and November 8, 2024.