#United States #Holiday Spending #Wilmington #Family Support #Barclays Survey

Embracing Holiday Traditions Amid Rising Costs

As the holiday season approaches, Americans are feeling the pinch of rising expenses yet remain committed to maintaining their cherished traditions. A new survey from Barclays sheds light on how consumers are making adjustments to stay connected with family and friends despite financial pressures.

Financial Pressure and Holiday Gatherings

The Barclays 2026 Holiday Spending Travel Pulse Survey reveals that over half (56%) of Americans have opted to skip or would skip holiday gatherings due to financial constraints. However, rather than completely abandoning these celebrations, many individuals pivot to more budget-friendly alternatives.

For instance, 79% of respondents indicated they would prefer to host gatherings at home instead of traveling, thereby cutting down on transport costs. Similarly, 78% confirmed plans to reduce everyday spending, while 74% would consider shortening their trips or utilizing rewards points before forfeiting their holiday connections altogether.

Doug Villone, Head of US Cards and Partnerships at Barclays US Consumer Bank, stated, "Consumers are being deliberate about how they preserve the holiday experiences that matter most to them." They are creatively strategizing their expenditures and using rewards to enhance the holiday experience.

Family Support Is Critical

Notably, families are stepping up to help one another. The survey reveals that 37% of Gen Z and Millennials are getting financial assistance from parents for their holiday expenses, which is a significant increase from 26% the previous year. Parents are covering various costs, including meals (53%), gifts (40%), and travel expenses (37%).

However, this support can come with emotional complexities; among those receiving help, 25% feel guilty about their financial situations, and 18% worry about the expectations that may accompany such assistance. Meanwhile, 38% of parents with adult children are providing financial help, indicative of the evolving dynamics of family support during the holidays.

The Value of Togetherness

Despite these challenges, the sentiment around family gatherings remains strong. An impressive 82% of survey respondents believe that the value of coming together with family during the holidays justifies the time and expense involved. Interestingly, while 34% of individuals noted they reach their limit with extended family within four hours of arrival, a majority (52%) expressed feelings of guilt should they choose to skip family gatherings for personal vacations.

Utilizing Rewards for Holiday Expenses

In an effort to manage costs effectively, many consumers are leveraging reward points to ease their financial burdens. The survey highlights that 63% of rewards cardholders are planning to cash in their points this holiday season. Many are directing these rewards toward gifts (35%), hotel stays (34%), gas (33%), and airfare (30%).

The prevalence of these measures emphasizes the importance of loyalty programs that can offer relevant value when consumers need it the most, particularly during the holiday season.

Conclusion

The insights from this Barclays survey reveal that while financial strains are a reality for many this holiday season, Americans are finding innovative ways to hold onto the traditions that matter most. By adjusting spending habits, leaning on family for support, and making smart use of rewards, families are keeping the spirit of the holidays alive despite the challenges they face. This research underscores the resilience of family connections and the ever-evolving strategies consumers employ to navigate the complexities of holiday spending.