Budget makers usually stick to the plan!
The vast majority of survey respondents (76%) said they're actually successful in sticking to their holiday budgets!
If they find the perfect gift, they can’t resist going over budgetThey tend to make impulse purchases for stocking stuffers and holiday treatsThey forget to include everyone on their list, so they wind up buying extra giftsSpending on holiday-related events (Christmas parties, office-organized gift exchanges, etc.)
Those darn stocking stuffers!
The little things matter, but they add up. Stocking stuffer and holiday treat purchases are out to get people's holiday budgets!
$1 to $99$100 to $199$200 to $299$300 to $399
Most overspend between $100 and $199.
The majority of survey respondents (31%) said they typically find themselves overspending by $100–$199, with the second-largest chunk of respondents (21%) estimating their overspending to land between $200 and $299.
Gifts and cards for friends and familiesEntertaining at homeDecorationsGifts for colleagues
Making it rain with gift cards is kind of costly.
The majority of survey respondents (51%) blamed their overspending on gift cards for friends and fam, while the second-largest group of respondents (26%) named entertaining at home as the culprit. Decorations and gifts for coworkers tied for third place, both claiming 18% of survey respondents.
January isn't so scary — most people are handling holiday payments as they go.
The largest chunk of survey respondents (45%) said they pay 100% as they go so they won't have to cover holiday expenses in 2019. Twenty percent said they'd pay more than the minimum payment, but not the whole outstanding balance in January 2019, but 16% plan to pay 100% of it at that time.
It's almost half and half, but more people said they haven't!
Just over half (55%) of survey respondents said they've never regifted a holiday present! Shocked? Same.
People are actually more interested in gift cards or cash.
Don't feel bad if you're tempted to just give someone a gift card or a crisp $50 instead of finding something more personalized. The largest chunk of survey respondents (49%) said they wanted gift cards or cash, followed by purchased gifts/items (20%), experiences like concert tickets and outings (16%), and handmade/homemade gifts (15%).
So someone can get something they actually likeToo much pressure to pick something outIt's the most convenient giftIt helps them stay within budget
It's not lazy; it's thoughtful!
Turns out a lot of people have gift-giving anxiety and just want their loved ones to get something they actually like. That's what the vast majority (51%) of survey respondents reported, but 25% admitted it was just the most convenient gift to give.
All information from TD Bank.
All images via iStock / Getty Images.