While plenty of us will wait until the last minute to start our holiday shopping, the season is upon us, and it seems plenty of us will be spending a lot of money over the holidays, whether we have it or not.
A new CreditCards.com survey finds:
- 61% of people with credit card debt are willing to go into more debt during the holiday season.
- This is particularly true for Millennials, with 52% saying they’ll add to their debt over the holidays, while only 49% of Gen Xers and 34% of Baby Boomers say the same.
- 51% of debt holders believe the holidays are a good reason to increase their debt, something only 26% of those without debt say.
So, why are people willing to go into more debt for the holidays.Well, the survey notes:
- 46% say it’s to please family or friends.
- 42% do it to make themselves happy.
- 38% say it’s to please their children.
- 38% do it to make their partners happy.
Read more --> CreditCards.com
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