It’s Not Too Late to Rein In Holiday Spending
Published On Dec 6, 2024, 9:00 AM
Recent insights suggest that setting strict budgets for holiday spending can lead to lower overall expenses, according to research by Chuck Howard, a business professor. Even if individuals exceed their budget, they still tend to spend less than they would have without a set limit. By establishing an optimistically low budget, consumers can create a reference point that encourages spending below their usual levels in areas like dining out.
Stock Forecasts
XRT
Negative
The trend of consumers budgeting carefully during holidays could influence retail companies and consumer-related stocks, especially as spending behaviors shift. If consumers spend less overall, it may negatively impact retailers' sales growth for the holiday quarter.
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