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Super Contributor
Posts: 367
Registered: ‎02-24-2018

Re: Early 2023 Holiday Spending Results

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@deeva Call me Clueless on Afterpay and Klarna. Thank you for keeping this much more than double 30 something in the know. 

 

Also on dining out, I'm not surprised to hear it is strong. Lunch these days equates to the price of dinner out several years ago.

Respected Contributor
Posts: 3,702
Registered: ‎06-24-2011

Re: Early 2023 Holiday Spending Results

The following is from the Associated Press news report. It kind of puts the sales numbers into some perspective. It's good news, but not great news.

 

Holiday sales rose this year and spending remained resilient during the shopping season even with Americans wrestling with higher prices in some areas and other financial worries, according to the latest measure.

Holiday sales from the beginning of November through Christmas Eve climbed 3.1%, a slower pace than the 7.6% increase from a year earlier, according to Mastercard SpendingPulse, which tracks all kinds of payments including cash and debit cards.

 

This year’s sales are more in line with what is typical during the holiday season, however, after a surge in spending last year during the same period.

 

Still, sales growth was a bit lower than the 3.7% increase Mastercard SpendingPulse had projected in September. The data released Tuesday excludes the automotive industry and is not adjusted for inflation.

Honored Contributor
Posts: 19,604
Registered: ‎03-09-2010

Re: Early 2023 Holiday Spending Results

My concern is that holiday spending will lead to greater debt in 2024. When I was young, I lived from paycheck to  paycheck. I carried charge card debt. I was responsible, but still regret having paid interest on things I should have saved for. Only after I met my DH,  did we start serious budgeting. If I had one piece of advice for young people, it's stay out of debt and live within your means.

Trusted Contributor
Posts: 1,271
Registered: ‎03-10-2010

Re: Early 2023 Holiday Spending Results

Spend spend spend equals debt debt debt for most. It is not a reflection on the health of the economy.
Valued Contributor
Posts: 523
Registered: ‎07-30-2013

Re: Early 2023 Holiday Spending Results

 
Esteemed Contributor
Posts: 5,889
Registered: ‎09-08-2010

Re: Early 2023 Holiday Spending Results


@Steffdoggy10 wrote:
Spend spend spend equals debt debt debt for most. It is not a reflection on the health of the economy.

I know, right!! "Spend, spend, spend" is a limited mentality. In the real world, prices increased, and you get less. Why get into debt by constant spending? 

Honored Contributor
Posts: 17,623
Registered: ‎06-17-2015

Re: Early 2023 Holiday Spending Results

Nothing happens in a vacuum.

 

Funny how people whine about board standards if someone disagrees with a political statement: then the usual "political posts are not allowed" and the ever favorite "she's trying to shut down the thread".

 

Yet if everyone is agreeing with the same people then they have no issues with a political jab. *crickets*

 

🦗🦗🦗🦗🦗🦗🦗

 

Both sides btw 

 

"" Compassion is a verb."-Thich Nhat Hanh
Respected Contributor
Posts: 2,072
Registered: ‎04-03-2016

Re: Early 2023 Holiday Spending Results

Sometimes "spend, spend" is done out of frustration and unhappiness.  Sometimes its out of Ignorance that saving allows covering some needs in the future.  

 

As costs rise, unfortunately spending has to also for certain costs, in particular food.

 

As for eating out, I am surprised that no one has mentioned the rise in paying cash in restaurants since so many establishments charging more when paying with credit.  Guess Master Card and others have more income coming from elsewhere.