My email inbox is already filling up with gift suggestions for the holidays, and I\u2019ll bet yours is already too \u2014 or will be soon. I\u2019ll admit it: I click on those links and go down the rabbit hole. <\/p>\n\n\n\n
Recently, my new obsession with Mahjong brought me to a fancy designer set that was way beyond what I would normally spend on a gift, but I kept looking at it and they almost<\/em> got me. I love to browse and imagine who I\u2019m going to give a gift to this year. I imagine the smile it will bring and the warm feeling of knowing that I nailed it \u2014 giving them a perfect gift for wherever they are in their life. <\/p>\n\n\n\n That feeling is real, and it is part of why the holidays are so much fun. But it is also how our budgets disappear. It\u2019s not one big splurge (although that can also happen), but many small moments spent lingering on a purchase link and convincing yourself that the holidays are reason enough to \u201cclick\u201d the buy button. <\/p>\n\n\n\n Retailers make it so easy. But then the elation deflates in January when the credit card bill comes due and it looks nothing like the budget you set back in the fall. Before we get to what to do about it, it helps to see how common this is.<\/p>\n\n\n\n Unfortunately, if this sounds familiar, you are in good company. According to a recent American Institute of CPAs (AICPA) survey<\/a>, 47% of people expect to go into debt this holiday season. That number jumps to 64% among adults under 35. And 39% say they have felt real regret over past holiday overspending. And a quarter of people who do make a holiday budget ahead of time do so admitting that they probably won\u2019t stick to that budget<\/a>. They admit defeat before the season even gets underway. <\/p>\n\n\n\nHow Many People Expect to Go Into Debt Over the Holidays?<\/h2>\n\n\n\n