Dec. 24 (UPI) — Americans are not in a jolly mood when it comes to spending for the holidays, with a majority saying it’s been difficult to afford things, according to a CBS News/YouGov survey released Wednesday.
The nationally representative sample of 2,267 U.S. adults was interviewed between Dec. 15 and 17, and asked 16 questions about the holidays and the economy in general.
With items costing more now than they did last year, respondents cut down on gifts, entertainment and travel.
When asked about things to buy for the holiday, 58% said it would be difficult, including 17% “very difficult” and 41% “somewhat difficult.” Conversely, 8% said it will be “very easy to afford” and 34% “somewhat easy.”
Regarding prices compared with last year, 27% said they cost “a lot more,” 44% “a little more,” 24% “the same” and 5% “little less” or “lot less.”
People with lower incomes obviously are struggling more.
For family incomes under $50,00, it is “difficult to afford” for 71% versus 56% for $50,000 to $100,000 versus 58% more than $100,000.
Based on the type of gifts, 42% say they are buying fewer gifts for others, 32% less for food and drinks, 48% for airlines/travel and 50% for entertainment. Of those categories, more spending was 5% for airlines/travel, 6% for entertainment, 16% gifts for others, and 17% food and drinks.
Despite financial concerns, the respondents are more positive this holiday season with 48% saying they feel “grateful,” 43% “happy,” 39% “stressed,” 29% “excited,” 29% “exhausted” and 23% “sad.”
People are preferring to avoid paying for things on credit. It breaks down to 45% using no credit, 30% using some, 16% using mostly credit and 9% using all credit.
People were also asked about the economy in general, with 32% saying it is good and 63% bad.
Thirty-two percent of people said their financial situation was good for them, down from 39% in July. Since January is has been in the 30s.
Compared with past years, 41% said it is worse in 2025, 36% not changed and 22% better.
Inflation is on people’s minds with 76% saying their income hasn’t kept up with their income, which is close to 75% in July and 77% in February. The annual inflation rate in the United States is 2.7% ending in November compared with 3.0% in September 2025, according to the U.S. Bureau of Labor Statistics.
Respondents were negative about the job market with 5% saying it’s “very good,” 29% “fairly good,” 32% “fairly bad,” 20% “very bad” and 14% not sure. The national unemployment rate was 4.6%, released by the U.S.Bureau of Labor Statistics, reflecting the labor market status for November.
Among the bright spots, more Americans rate the condition of the stock market as good than bad, especially for those whom the market’s performance matters a lot to their finances. The stock market was listed as 10% “very good,” 32% “fairly good,” 14% “fairly bad,” 6% “very bad” and 38% “not sure.”
Another good sign is gas prices, with 32% saying they are going down compared with 12% in October. Only 20% say fuel prices are going up vs. 34% in October, with 33% saying the are the same vs. 38% two months ago.
The current average is around $2.85 per gallon for unleaded, compared with $3.04 a year ago, according to AAA. The highest average was $5.02 on June 14, 2022.
The sample was weighted to be representative of adults nationwide, according to gender, age, race and education based on the U.S. Census American Community Survey and Current Population Survey, as well as 2024 presidential vote. The margin of error is 2.5 points.
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