#United States #Chicago #Holiday Spending #financial anxiety #guilt-giving

The Financial Burden of Holiday Cheer

As the holiday season approaches, it seems that the joy of gift-giving is increasingly overshadowed by financial concerns for many Americans. A recent survey conducted by Beyond Finance highlights a troubling trend: 65% of American respondents find it nearly impossible to determine how much they can afford to spend during this festive season. In an age where social media amplifies consumerism, two-thirds of the participants acknowledge feeling pressured to overspend due to societal expectations and cultural norms. This phenomenon includes what experts call “guilt-giving”, where individuals feel obligated to purchase gifts despite financial constraints, and “FOMO-spending”, driven by the fear of missing out.

Understanding the Pressures

The pressures of holiday spending are often fueled by various sources. 66% of those surveyed pointed to unhealthy societal expectations as a primary factor, with 29% citing family pressures and 26% feeling the need to reciprocate gifts. Marketing strategies also play a significant role, with 25% of respondents blaming promotional activities that create the perception that purchasing gifts equates to care and affection.

This year, a striking 52% of Americans have either purchased or plan to buy gifts out of obligation, resulting in an average expenditure of over $250 on gifts that often lead to more guilt than joy. The younger generations, specifically Gen Z and millennials, feel these pressures the most, with 64% and 66%, respectively, participating in guilt-giving behaviors. In contrast, only 30% of baby boomers report the same.

Families with children under 18 have been especially affected, as 76% of these parents have admitted to feeling obliged to overspend. The economic background plays a role as well; 54% of individuals already in debt from previous holidays anticipate accruing more debt this season, significantly impacting their financial well-being.

Social Media's Influence

The influence of social media cannot be ignored; nearly 19% of people admitted to purchasing gifts or experiences mainly for the sake of posting online, while 22% expressed regret over impulsive purchases made in the heat of social comparison. This reflects a deeper emotional turmoil as spending often becomes tied to self-worth and the desire for social validation, leading to regret and further anxiety.

The Emotional Toll

Moreover, many Americans experience emotional strain throughout the holidays. About 24% reported feeling stressed, and 18% were frustrated due to the difficulty of finding gifts within their budget. Guilt about not purchasing presents was a significant factor for 13%, underlining the intricate connection between financial and emotional stress during this time.

Dr. Erika Rasure, chief financial wellness advisor at Beyond Finance, emphasizes that the financial anxiety experienced during the holidays is not solely rooted in economic factors but is also deeply intertwined with emotions. This year’s survey indicates a need for better communication around financial boundaries before holiday shopping begins.

Tips for a Balanced Approach

To combat these issues and foster a more fulfilling holiday season, experts recommend several strategies:
1. Talk About Money Early: Initiate conversations about spending expectations with family and friends prior to shopping. Establishing boundaries can alleviate guilt and stress.
2. Pause Before You Purchase: Recognize emotional triggers that lead to impulse spending. Taking a moment to breathe or step back can help prevent unnecessary purchases.
3. Give Yourself Permission to Say 'No': Don’t feel obligated to participate in group gifts that stretch your budget. Prioritizing your financial health is essential.
4. Define Your Seasonal Values: Understand what matters most to you during the holiday season and make spending decisions that reflect those values.
5. Make Gifts Meaningful: Choose thoughtful, personalized gifts over expensive ones to enhance emotional connection without the burden of guilt-giving.
6. Reflect and Reset: After the holiday season, keep a record of what purchases brought joy and which did not. This will guide your future financial habits and emotional priorities.

From 2011 to now, Beyond Finance has helped over 1 million individuals tackle their debt, assisting clients in creating healthier financial habits through personalized services. The survey was conducted from October 14 to 24, 2025, and included 2,000 participants. The emphasis remains clear: financial wellness is deeply connected to emotional health, especially during the holidays. For more information on budgeting techniques and strategies for managing holiday expenses, visit Beyond Finance.