CBS News poll finds Americans say holidays are costing them more, some are scaling back

The holiday season is upon us, and many Americans are feeling the financial strain as they navigate through the festivities. A recent survey revealed that a majority of Americans find it somewhat difficult to afford the things they are purchasing for the holidays. With rising costs of items compared to last year, some individuals are cutting back on gifts, entertainment, and travel to make ends meet.

Holiday spending habits also shed light on the disparities in Americans’ financial situations. Those who consider their financial situation to be good, typically individuals with higher incomes, find it easier to afford the holidays. However, even they acknowledge that prices are on the rise. This highlights the ongoing financial divide among Americans.

Despite the season traditionally evoking feelings of gratitude and happiness, financial concerns can also play a role in shaping sentiments. Those who find it challenging to afford holiday expenses are more likely to experience stress during this time. As holiday travel approaches, there is some relief in the form of decreasing gas prices, a welcome change from the trends observed earlier in the year.

When it comes to holiday shopping, fewer Americans plan to spend more on gifts, entertainment, airline tickets, or food and drinks compared to previous years. Those who anticipate financial difficulties this year are particularly inclined to scale back on these expenses. On the other hand, individuals who perceive their financial situation as good are more likely to maintain or increase their holiday purchases.

Looking back on 2025, the economic outlook remains bleak for many Americans. The year showcased a persistent divide between those who feel financially secure and those who struggle. While some individuals experienced improvements in their financial situation, others faced setbacks, with higher-income earners generally faring better.

Concerns about inflation have been prevalent throughout the year, with a majority of Americans expressing that their incomes are not keeping pace with rising prices. Views on the job market remain negative, despite a recent uptick in job creation. On a positive note, more Americans view the stock market favorably, especially those whose finances are closely tied to its performance.

As we look ahead, Americans hold a mixed outlook for the future economy, with some anticipating a slowdown or recession while others expect growth or stability. The year ends with a sense of uncertainty and cautious optimism as individuals navigate through financial challenges and uncertainties.

Overall, the holiday season serves as a reminder of the financial complexities that many Americans face. While feelings of joy and gratitude prevail, financial stress and uncertainty linger in the background. As we bid farewell to 2025, it is evident that economic concerns and disparities continue to shape the experiences of individuals across the country.