While last December”™s holiday season might feel like a distant memory to many, a new nationwide survey finds many Americans having regrets over how they spent money in pursuit of seasonal cheer.
According to a survey of more than 1,000 adults released by MoneyGeek, a San Francisco-based personal finance technology company, Americans spent an average of $1,131 in December on holiday-related spending, with roughly 13% incurring $3,000 in debt or more. However, more than one-quarter of the survey”™s respondents acknowledged regret over their level of holiday spending, with 19% lamenting that said they spent too much. Women were 35% more likely than men to regret spending too much.
The survey”™s respondents stated they put 65% of their holiday spending on credit cards, equivalent to an average of about $900. But as of Feb. 11, 40% of respondents failed to pay off their 2021 holiday debt.
