Christmas/Holiday Season shopping often turns into debt.
PRNewswire reports a new survey from the Country Financial Security Index, here is how most plan to pay for gift-giving:
- 57% expect to be in debt to pay for Christmas gifts
- 31% plan to use a credit card for their holiday season spending
- 18% will take money from savings to purchase gifts
- 1% will borrow money from family or friends to do their shopping
Bottom line – the old painful way of paying for Christmas is on… debt.
Read more HERE about how Americans plan to finance their holiday season.
How do you plan to pay for your Christmas purchases this year?