Overspending and the True Meaning of Christmas

By |2022-12-16T16:41:02+00:00December 27, 2022|Personal Finance|

According to Gallup, this Christmas individual Americans intend to spend an average of $932 on gifts. That’s up nearly $100 over last year. Are people planning to spend more because they have more money in their pockets? Not exactly. Over the past year Americans have been relying more and more on credit to make ends meet. According to an analysis of Federal Reserve data by WalletHub, in the second quarter of this year alone credit card debt increased by roughly 6% compared to the previous quarter. [...]