No need to panic about Christmas gifts this year, most Americans want cold hard cash to pay bills or buy themselves gifts, a Lending Tree survey found.
Overall, 49% of people giving gifts this year want to receive cash in return. That number ticks up to 61% for kids under 18, 58% Gen Zers and 57% for millennials, and, if given the option, 39% of gift receivers said they would trade it in for its cash value, according to a survey by Lending Tree.
When it comes to spending the money, 27% of respondents would use it to pay bills and another 27% said they would buy themselves something nice while just 18% said they would save it.
Some respondents, said they would use the money to buy a gift for someone else (11%), pay down their debt (9%), or invest it (4%).
Other interesting insights revealed 31% of Americans are opting out of buying any gifts this year with 52% blaming high costs. Additionally, 55% of respondents are cutting back on traditions like Secret Santa and Elf on the Shelf because of inflation.
© 2024 Latin Times. All rights reserved. Do not reproduce without permission.
