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While these actions taken with a credit card might seem small, they can create a big problem, especially for nearly one-third of Americans still struggling to pay off last year’s holiday balances.
NerdWallet’s holiday spending report from September indicated 28% of 1,700 surveyed shoppers have yet to move past their debt from the 2023 holiday season. Add this year’s seasonal costs to the mix and the “stress” more than half of survey participants reported when thinking about holiday spending only escalates.
Dan Roccato, a finance professor at the University of San Diego’s Knauss School of Business, blames inflation for the lingering debt.
IN-PERSON SHOPPING MAKES A COMEBACK AMID RECORD-SPENDING HOLIDAY SEASON
“The price of toys and other Christmas gifts are just simply more expensive than they were three and a half years ago, so that’s the first issue that Americans are grappling with,” he told Fox News on Monday.
Financial guru Dave Ramsey shared the same …