Charles Rex Arbogast / AP
Very few shoppers set a strict holiday budget, according to a new survey.
Given the state of the economy, it comes as no surprise that many Americans are worried about how they’ll be able to pay for all their holiday expenses.
The trouble is, most of us don’t seem to be doing much to plan for it.
A new survey from the National Endowment for Financial Education finds that just 31 percent of consumers plan to set a budget this holiday season. That’s only slightly more than last year, when 27 percent said they were making a budget.
The vast majority said they weren’t going to set a holiday spending budget. Still, only 10 percent said they often spend more than they want to. That’s about the same as last year.
The wealthier the household, the less likely they were to set a budget.
Half of the people NEFE surveyed said they were more worried about being able to afford holiday expenses than they were five years ago. Nearly 4 in 10 are just as concerned about holiday spending as they were five years ago.
Harris Interactive conducted the survey of about 2,800 adults earlier this month on NEFE’s behalf.