Americans Cut Back On Spending This Holiday Season

The video discusses how inflation is affecting holiday spending, with many Americans planning to buy fewer gifts or skip gift-giving altogether. Despite high inflation, consumer spending is expected to be slightly better than in 2020 and 2021. The Federal Reserve's interest rate hike may increase credit card interest, impacting holiday shopping. Surveys show concerns about holiday debt and financial planning, with many using credit or debit cards for purchases. As tax season approaches, changes in tax laws may affect refunds. Experts advise careful budgeting, using cash, and being cautious with buy now, pay later options.

What percentage of Americans plan to buy fewer gifts this year?

How has inflation affected consumer spending during the holiday season?

What did the National Retail Federation survey reveal about credit and debit card usage for holiday purchases?

What changes occurred in tax refunds from the previous year to this year?

What are some financial strategies people are using to manage holiday shopping expenses?