You're 'wired' to overspend during the holidays, expert says — here's what to do about it

Published On Nov 29, 2024, 11:07 AM

The article discusses the tendency of consumers to overspend during the holiday season, driven by behavioral economics and social pressures. A recent Gallup poll indicates that Americans expect to spend an average of $1,014 on gifts in 2024, up from last year's $923. About 10% plan to use their emergency funds for holiday spending, and many will rely on credit, with a significant portion still dealing with debt from previous holiday seasons. Experts suggest strategies such as developing a spending plan, tracking purchases, setting expectations for gift-giving, and reflecting on long-term financial goals to manage holiday spending better.

Read full article

Stock Forecasts

XRTView XRT chart on TradingView

Positive

The increase in holiday spending expectations suggests strong consumer confidence, which may positively impact retail stocks. Companies that rely on holiday sales could see a boost in sales and stock prices due to higher consumer expenditure. Retail ETFs, which group together various retail stocks, may also benefit from this spending trend, particularly those focusing on e-commerce transactions as people increasingly shop online.

Related News

Black Friday: Five ways to avoid being ripped off

Nov 27, 2024, 7:03 PM

Experts tell us how to work out if a deal is a genuine bargain or could leave you out of pocket.

AMZN
XRT

Small businesses are still struggling: 'I have yet to bring home a single dollar'

Nov 22, 2024, 6:08 AM

Small businesses are still feeling pressure from worker shortages to inflationary pressures. The challenges are persisting as we enter the critical holiday period.

XRT

Retail sales fell in October as Budget fears hit spending

Nov 22, 2024, 2:25 AM

Sales volumes fell by more than expected in October with clothing stores having a "notably poor" month.

XRT