Quiz: Rank Your Holiday Spending
The holiday season is filled with joy, family and gifts, but all of that celebrating comes at a cost. For example, the average shopper spent $365.34 during Black Friday weekend, according to the National Retail Federation (NRF). Did you spend that much? Overall, do you spend more than the average American holiday spender? Find out with this easy quiz.
IN PICTURES: 8 Easy Ways To Slash Your Holiday Budget
B) $80-$90
C) $100-$120
If you chose B, you'd fit right into the average predicted spending of $86.32 on candy and food, according to the NRF's 2010 Holiday Consumer Intentions and Actions Survey. In comparison, Americans spent on average $20.29 on candy at Halloween in 2010.
IN PICTURES: 5 Money-Saving Shopping Tips
B) $40-$55
C) $60-$80
If you answered B, congratulations, you're average! The NRF predicts holiday shoppers will spend $41.51 on decorations – everything from the tree to the table. That's quite a bit higher than the average of $18.66 spent on Halloween decorations in 2010. (For more, check out Host A Holiday Party For Less.)
B) Debit
C) Credit Card
You may be surprised to hear that the answer is B. According to NRF's 2010 Holiday Consumer Intentions and Actions survey, 43% of consumers will reach for their debit cards first for this year's holiday purchases. That number is up 20% from 2005's survey. If you use a credit card primarily, you're among 27.6% of shoppers – the lowest percentage since the 2002 survey. Up from last year, 25.7% will use cash to pay for their holiday purchases.
It also seems that leaving that credit card at home for the rest of 2010 will serve you well. According to Credit.com, those who relied on credit cards ended up spending an extra $180 on average.
B) More than $300, less than $500
C) More than $500
If you answered C, you're in line with the NRF prediction of $688.87 on holiday-related shopping. Considering how much emphasis is put on holiday spending, this number may not seem all that high. However, it does represent a 1% increase from 2009, according to the National Retail Federation.
The Bottom Line
While this time of year is traditionally pricey, it doesn't mean you have to go completely overboard. The memories you'll keep from this time of year likely have nothing to do with price tags or the total amount you spent on someone – and those memories won't leave you with a holiday spending hangover in January. (For more, see Tips For Avoiding A Holiday Spending Hangover.)
Find out what happened in financial news this week. Read Water Cooler Finance: Steady Stocks, Big G's And Madoff News.
IN PICTURES: 8 Easy Ways To Slash Your Holiday Budget
- How much will you spend on holiday gifts?
A) More than $100, less than $300
B) More than $300, less than $500
C) More than $500
B) $80-$90
C) $100-$120
If you chose B, you'd fit right into the average predicted spending of $86.32 on candy and food, according to the NRF's 2010 Holiday Consumer Intentions and Actions Survey. In comparison, Americans spent on average $20.29 on candy at Halloween in 2010.
IN PICTURES: 5 Money-Saving Shopping Tips
- How much will you spend on yourself this holiday season?
A) $0
B) $50
C) $100+
B) $40-$55
C) $60-$80
If you answered B, congratulations, you're average! The NRF predicts holiday shoppers will spend $41.51 on decorations – everything from the tree to the table. That's quite a bit higher than the average of $18.66 spent on Halloween decorations in 2010. (For more, check out Host A Holiday Party For Less.)
B) Debit
C) Credit Card
You may be surprised to hear that the answer is B. According to NRF's 2010 Holiday Consumer Intentions and Actions survey, 43% of consumers will reach for their debit cards first for this year's holiday purchases. That number is up 20% from 2005's survey. If you use a credit card primarily, you're among 27.6% of shoppers – the lowest percentage since the 2002 survey. Up from last year, 25.7% will use cash to pay for their holiday purchases.
It also seems that leaving that credit card at home for the rest of 2010 will serve you well. According to Credit.com, those who relied on credit cards ended up spending an extra $180 on average.
B) More than $300, less than $500
C) More than $500
If you answered C, you're in line with the NRF prediction of $688.87 on holiday-related shopping. Considering how much emphasis is put on holiday spending, this number may not seem all that high. However, it does represent a 1% increase from 2009, according to the National Retail Federation.
The Bottom Line
While this time of year is traditionally pricey, it doesn't mean you have to go completely overboard. The memories you'll keep from this time of year likely have nothing to do with price tags or the total amount you spent on someone – and those memories won't leave you with a holiday spending hangover in January. (For more, see Tips For Avoiding A Holiday Spending Hangover.)
Find out what happened in financial news this week. Read Water Cooler Finance: Steady Stocks, Big G's And Madoff News.
by
Erin Joyce
Erin Joyce graduated with an honours degree with distinction in English from the University of Toronto where she was an active member of University College. She does a lot of freelance editing and writing through her company E3 Writing Services, working on academic and corporate projects, as well as both fiction and non-fiction manuscripts. She is a member of the Editors' Association of Canada. Follow Erin on Twitter @e3writing.
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