Holiday shoppers are planning to spend about $880 on gifts this year, according to NerdWallet’s latest holiday spending report. That’s a 21% drop from last year’s expected average of just over $1,100, and it reflects real pressure on household budgets across the Suncoast and beyond. Inflation and rising prices across consumer categories are the main drivers, and families are also trimming travel plans to stay closer to home.
Kim Palmer, a personal finance expert at NerdWallet, says people are stressed financially, and it’s reshaping how they approach the season. Her advice is practical: make a gift list early, spread purchases over several months, and watch for sales rather than doing everything at once. She also cautions against buy now, pay later plans, which can feel painless in December but turn into debt when the bill lands in January.
The takeaway for local families is simple. A smaller budget doesn’t have to mean a smaller celebration. Planning ahead, tracking spending, and being honest about what’s affordable can keep the holidays joyful and the new year debt-free. What’s your strategy for keeping holiday spending in check this year? Let us know on our Facebook page.
