Holiday Shoppers Get Serious About Budgets - Other News


ADVERTISING DISCLOSURE: is an independent, advertising-supported web site. receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » News » Other » Holiday Shoppers Get Serious About Budgets

Holiday Shoppers Get Serious About Budgets

Holiday Shoppers Get Serious About Budgets
The content is accurate at the time of publication and is subject to change.

As people check items off their shopping lists this holiday season, they’ll be keeping another type of list too: how much they’re spending. A survey by Discover showed that more people this year than last are keeping a budget in mind when shopping for gifts and other seasonal necessities.

Fifty-seven percent of people surveyed said they have a budget for holiday spending this year. Last year, only 52% were sticking to a spending plan. About half of this year’s budget-makers are keeping their spending under the $500 mark.

In what could be seen as a sign of continued economic improvement, 30% of people said they planned to spend more this year than last, a change from 2013, when only 23% expected to spend more. Of those, 30% who will open their wallets a bit wider this season with 49% saying it’s because they have more people on their gift list this year. Thirty-two percent said they received a raise or started a new job this year, allowing them to spend a little more on gifts, food, decorations and other holiday items.

Earning those holiday reward points

Holiday shopping presents a good opportunity for racking up credit card rewards, and many shoppers planned to take full advantage. Of the 40% of consumers who said they would use credit cards to pay for the majority of their holiday shopping, 87% said they would choose which card to use according to which card would earn the most credit card bonus points or cash back.

Last year, only 29% of folks said they’d put their purchases primarily on a credit card, and 76% of those planned to pull out their rewards cards at the register.

Credit card rewards provide a big incentive for many people to make their holiday purchases with credit cards; 55% said that their biggest reason for using credit isearning rewards.

During the holidays, many rewards credit cards give more cash back and points in popular shopping categories. This year, Discover card is offering 5% cash back on all online and department store purchases up to $1,500 through December 31, for a maximum of $75 cash back.

Mobile browsing, not buying

Although mobile devices are increasingly popular for banking, shopping, and making payments, it seems people prefer to use them to browse, not buy, this holiday season. When Discover asked survey participants how they would use their smartphones this season, 46% said they would use them to compare prices while they are shopping in a brick-and-mortar store, and 38% said they would use them to look for product reviews.

The Discover holiday shopping survey was conducted between October 28 and November 4, 2014, and included responses from 1,504 participants.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:

Related News:

Holiday Shopping Continues Even After Christmas
Holiday Shopping Continues Even After Christmas

Posted: December 17, 2014

The holiday shopping season doesn’t end once Christmas is over, according to the latest American Express Spending & Saving Tracker. In fact, the day after Christmas is creeping up on Black Friday as one of the biggest shopping days of the… Continue reading

Americans Digging Deep For Love
Americans Digging Deep For Love

Posted: February 13, 2015

Chocolate prices may be going up for Valentine’s Day, but according to a new study it’s not getting in the way of love. Sweethearts are spending more this year on everything from chocolate and flowers to engagement rings. Continue reading

Consumers Racking Up and Spending Rewards Shopping Online
Consumers Racking Up and Spending Rewards Shopping Online

Posted: November 28, 2016

Holiday shopping can get expensive, but according to a new study by Discover, many consumers will be using rewards and cashback based programs and cards to get the most out of their spending. Continue reading

Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, and more up to the quarterly maximum, each time you activate.
For Excellent, Good Credit
INTRO OFFER: Discover will match ALL the Miles you've earned at the end of your first year, automatically. For example, if you earn 30,000 Miles, you get 60,000 Miles. That's $600 towards travel!
For Excellent, Good Credit
Earn unlimited 1.5% cash back on every purchase, every day
For Average, Fair, Limited Credit
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!