Financial Issues: Over 45% Americans Happy to Skip Christmas Gift Giving

by Kathy Jones on  November 24, 2012 at 5:50 PM Lifestyle News
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A new survey has revealed that about 45 percent of Americans would prefer to skip Christmas this December.
 Financial Issues: Over 45% Americans Happy to Skip Christmas Gift Giving
Financial Issues: Over 45% Americans Happy to Skip Christmas Gift Giving

According to a recent survey conducted by Think Finance, a loan provider, financial hardships being faced by many Americans have forced them to see 'gift giving' on the occasion as rather a nuisance.

"The economy has shown gradual improvement in recent years, but everyday Americans are still working hard to cover expenses making holiday spending particularly stressful," the New York Daily News quoted Think Finance CEO Ken Rees, as saying.

According to the report, nearly half of the 1,000 Americans surveyed across multiple income levels do not anticipate having enough money set aside to cover Christmas expenses.

54 percent of those polled intend to spend 500 dollars or less on Christmas gifts, while 27 percent intend to speed between 500 and 1,000 dollars, the survey noted.

The survey also found that around 41 percent said that they could only last for two weeks without receiving a paycheck, while 25 percent thought they could get by for about a month.

More than half of the poll participants expect to enter the New Year with debt, including 54 percent of those who earn more than 100,000 dollars annually, the report said.

Source: ANI

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