A new survey forecasts that Americans, especially millennials, will overspend during the holiday shopping season. Millennials, many now with school-aged children, are driving this trend, with 63% planning to spend the same or more as last year. This optimism is attributed to increased income and positive earnings expectations for the coming year. However, relying on credit cards or 'buy now, pay later' plans without quick repayment could lead to high costs.
Americans tend to overspend during the holiday shopping season, and this year will be no different, according to forecasts.
Millennials are also more likely to say their income went up over the last few months and that they expect their earnings potential to increase again in the year ahead. TransUnion polled 3,000 adults in October. Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weekly
Millennials Holiday Spending Credit Card Debt Buy Now Pay Later Economic Optimism
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