With just a week left until Christmas, it’s crunch time for buying presents. While some folks prefer to wait until the last minute to do their shopping, others have to hold off until they get paid to get started, but it turns out, a lot of people plan to charge theirs anyway.
A new survey reveals that more than a third (35%) will be using a credit card for their holiday purchases. The thing is, most of them won’t be paying off those balances right away, which sets them up for a financial holiday hangover waiting for them in the New Year.
According to the poll of 2-thousand Americans who celebrate a winter holiday, only 17% say they always pay their credit card balance in full to avoid interest, so the rest will be starting 2026 in credit card debt.
- Seven in 10 credit card users expect to carry a balance into the New Year.
- For 18%, it’s going to take a while to pay off, as they expect to still be paying off their holiday purchases next summer.
- Regardless of how they’re buying gifts, a lot of shoppers are still trying to stay thoughtful and disciplined with their spending.
- When it comes to “holiday spender” types, 35% identify as “The Giver,” as they want to be as generous as possible while being realistic about their spending.
- Just over a quarter (27%) identify as “The Planner,” because they make lists, set a budget and stick to it.
- A lot of Americans are trying something new this holiday season: using AI to help with shopping. Overall, 44% have used AI for their holiday shopping or plan to.
- Younger adults are even more likely to rely on AI, as 60% of Gen Z and 55% of millennials say they will, compared to 39% of Gen X and 21% of baby boomers.
- Those who’ve tried AI for shopping say it saves time (46%), helps them stay on budget (45%) or find more meaningful or creative gifts (37%).
Source: Talker⠀