The AP (12/18, Morga ) reports that although “the holidays are meant to be a time of celebration with family and friends…they can also bring pressure to spend money on gifts, gatherings and plane tickets home, exacerbated by brand emails, social media influencers and family expectations.” With credit card debt increasing “and prices for many items still high due to inflation, overspending during the holiday season can add to the financial stress many Americans are already experiencing, said Dr. Marketa Wills, CEO and medical director of the American Psychiatric Association.”
Wills said, “The idea that one is on the hook for buying gifts for all their friends and families adds an enormous amount of stress on someone trying to have a perfect holiday.” The AP offers “expert recommendations to avoid financial stress this holiday season,” including “setting expectations with your family,” making a budget, and “gifting experiences rather than things.”
Related Links:
— “How to avoid financial stress during the holiday season,” Adriana Morga, Associated Press, December 18, 2024