6 reasons you’ll spend more money this holiday season (even if you aren’t buying gifts)

It’s a good idea to build a little extra room into your budget this winter, even if you aren’t planning on spending a lot on holiday gifts. Products and services across a wide range of categories have gotten significantly more expensive over the last year. That’s thanks to a supply chain crunch and inflation, which pushed prices 6.2% higher in October compared to a year earlier.

Plus, more Americans are comfortable with traveling, dining out and attending and hosting in-person gatherings again. That means they’ll be spending a lot more on experiences and parties this winter.

One survey conducted by Goldman Sachs’ Marcus found that 34% of Americans plan to spend more on holiday gatherings this year than they did in 2020.

Here’s everything you need to know to avoid bill shock as the holiday season kicks into high gear.

 

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