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IDAHO FALLS, Idaho (KIFI)- The holiday season is right around the corner, and shoppers starting to get anxious about what that may mean for the pocketbook.
In a survey from savings.com, over half the people surveyed shared that they are worried about the season.
“58% of the people in our study were concerned they might not be able to afford everything that they might want or everything on their list this holiday season,” said Corie Wagner the Senior Research Editor for savings.com.
Another 44% shared how they are planning to cut back on what they will spend this season.
This is due to a variety of factors some of which are related to the economy since the COVID Pandemic, and the high rise of inflation. But there’s even more to it than that.
“People are really concerned about the cost of living like rent. Those kinds of things aren’t really, coming back down to a stable position across the board. I know where I live. Housing is still really touch and go. So I think that’s something that’s definitely on people’s minds. You’re not going to go out of you’re not going to go overboard on gifts when you’re worried about making rent at the end of the month,” Wagner said.
With all of the worries consumers are facing they are also coming up with strategies to save during the season.
“A lot of people are going to be doing a lot of price comparison, a lot of research before they make their final purchase decision. Some people might be just prioritizing gifts being given to their most close family members and friends. Setting spending limits for each of their family members. More than a third of people said they’re going to do that and I would highly recommend putting a budget in place before you start your holiday shopping,” Wagner said.
Others still mentioned that they plan on converting their credit card points into cash to give their holiday budget a little more wiggle room. For more tips you can go here.
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