The holiday season can entice consumers to overspend, leading to post-holiday financial struggles. Being frugal during festive times can offer long-term benefits.
Mastercard SpendingPulse noted a 3.1% rise in holiday sales this year compared to last, illustrating the strong consumer appetite despite rising prices.
The National Retail Federation projected holiday spending to hit up to $966 billion, highlighting the significant economic activity linked to the holiday shopping period.
Personal spending growth has slowed, with only a 0.2% increase seen in May 2024, suggesting consumers may be starting to feel the effects of economic strain.
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