Pressure mounting when buying gifts

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(NBC) – Everybody is expecting the mad dash of holiday shoppers to really pay off this year.

Sara Skirboll  from Retailmenot.com says, “I think the numbers are certainly going to be up. Traditionally speaking, people still like to go into stores and shop. They like to do a lot of gift-giving.”

So much gift-giving the National Retail Federation expects, on average, consumers will spend over a thousand dollars shopping this season, mostly on gifts. What wasn’t expected is the number of people feeling pressured to spend even more than they’ve budgeted.

Adrian Garcia from Bankrate.Com says, “If you have little ones or loved ones that are telling us what they want, you are just being bombarded with the push to spend.”

A survey from Bankrate.Com found nearly half of all Americans feel pressured to spend more on gifts this year.

Says Garcia, “So that is where that stress comes from. We want to provide our loved ones with the best holiday experience we can but we do have limited resources at the end of the day.”

Men are more likely than women to overspend as are Millennials and Gen X-ers over older Americans. Lower income consumers will spend much more percentage-wise than the middle-income crowd.

Garcia cautions, “There will be a lot of spending, not all of it as we know will be wise spending, so there will be some regret come January 1st.”

Investment advisors at The Motley Fool say some shoppers will spend as much as their monthly rent on holiday shopping this year.
 

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