Holiday spending in 2020.

Much like everything else, Covid is having an impact on how people are spending money this upcoming holiday season.

But not as much as you might think.

Wife & I don’t really buy stuff for each other anymore. Maybe a gift or two, but that’s about it. Nothing extravagant.

We’ll buy a tree, put up the lights, probably get her parents a gift, but that’s about it.

The first big study on holiday spending just came out and 1/4 of Americans plan to spend less on the holidays this year, but the average is still almost $1,400! That includes everything from gifts & decorations to food & travel expenses.

That $1,400 is only 7% less than our average. Some of the other stats from the survey:

1. We’ll spend $487 on gifts, down 5% from last year
2. Travel expenses are expected to drop 34% to $260, mostly due to fewer people flying.
3. Non-gift purchases are going to be up 12% to $435 per family. This includes stuff like decorations & clothes we buy for ourselves(think “ugly Xmas sweater)
4. We’ll spend $205 on at-home entertainment, which is about the same as we spent in 2019.
5. 2/3rds of our holiday budget will be spent online. People are still nervous about shopping in person at a traditional store.
6. 61% of people in this poll plan to start shopping before Thanksgiving.

For all the info from this study, click here.