Leaning on credit cards, or even buy now, pay later, to purchase holiday gifts will come at a high cost if there are missed or late payments.
  • @return2ozmaOP
    1•2 months ago

    This year, holiday spending between Nov. 1 and Dec. 31 is expected to increase to a record total of $979.5 billion to $989 billion, according to the National Retail Federation.

    Even as credit card debt tops $1.14 trillion, holiday shoppers expect to spend, on average, $1,778, up 8% compared to last year, Deloitte’s holiday retail survey found.

    Meanwhile, 28% of holiday shoppers still have not paid off the gifts they purchased for their loved ones last year, according to another holiday spending report by NerdWallet.

    • @[email protected]
      2•2 months ago

      Heading into the peak holiday shopping season, 74% of shoppers plan to use credit cards to make their purchases, NerdWallet found.

      Another 28% will tap into savings to buy holiday gifts and 16% will lean on buy now, pay later services. NerdWallet polled more than 1,700 adults in September.

      1700 isn’t a huge sample size, but still pretty interesting figures.