(Image credit: Sonja Lekovic/Stocksy)
Coinstar recently released data from their survey about holiday spending. After polling 2,000 adults, they offered up a few insights of how folks shop, budget their cash and prepare for the holiday months.
With just over half of the respondents saying that they feel the emphasis on holiday gift giving has increased, it’s no surprise that people are getting more mindful about how they spend their money.
65% of those polled intend to set a budget this holiday season, though 77% fully expect to blow that budget. When asked what else they expected to spend their money on outside of gift buying, 34% of respondents said entertaining family and friends (which if you’re looking to stay in budget, might we suggest taking a crappy dinner party approach?)
In order to save a bit on gifts, 68% of respondents plan to give gifts “that are not purchased at retail (online or brick & mortar),” aka DIY them! 35% of millennials plan to DIY, as compared to 23% of boomers. For those who aren’t DIYing their gifts, only 14% identified as last minute shoppers with 33% who buy gifts whenever they see them throughout the year.
Check out the rest of the survey for more info.
How do you save or spend for the holidays?