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 new insight or understanding did you gain from this video?