Summary
People in the U.S. are planning to spend less money on holiday gifts this year, according to a survey. Experts suggest ways to manage holiday spending, such as using a method to decide who is most important to buy for and being honest about gift expectations with friends and family.
Key Facts
- A Gallup survey found that many consumers, especially those with lower incomes, plan to spend less on holiday shopping.
- The Conference Board predicts that average holiday spending will decrease by about 7% compared to last year.
- Elaine Swann suggests using the "onion method" to prioritize gift recipients, focusing first on those closest to you.
- Lizzie Post recommends reducing your gift list by cutting names of people you won't see during the holidays.
- Both Swann and Post say it’s important to communicate expectations about gift-giving with loved ones if you’re scaling back.
- Being open about financial limits for gifts can prevent misunderstandings and ease awkwardness.
- If others tell you they’re reducing their gift-giving, respond with understanding and support.
