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More Americans stressing about paying for holiday gifts

Christmas Tree
Posted at 9:55 AM, Nov 09, 2022
and last updated 2022-11-09 12:55:17-05

Americans are making adjustments to their holiday budgets, and it's stressing some people out.

A recent survey by Beyond Finance found 57% of people are more concerned about being able to pay for holiday gifts compared to last year.

Financial therapist Erika Rasure said if this is you, the first thing to remember is that you're not alone.

”Do not feel any guilt or shame over this,” she said. “You are normal, and there are other people who are dealing with the same issues.

The survey also found a lot of this stress comes from managing others' expectations. Things like hosting holidays at your home, being expected to travel, or buying expensive gifts.

Rasure says this is an opportunity to start new traditions.

“Say you and your sister exchange, you know, a $25 gift card every year? Well, maybe, instead of doing that where it's just a wash, you take one $25 gift card, and you take each other out to dinner,” said Rasure. “You know you have the expense, but you have that time.”

She says it's important to realize that time spent together is also a gift.