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Christmas can be the most expensive holiday on any family’s budget and these 2012 holiday spending statistics predict just how much Americans will be spending at the mall. Up about 10 dollars from last Christmas, the average holiday budget is $749.51 per family with early shoppers spending about 14% more than last minute gift givers. Of that holiday budget, $548.56 is going to gifts, $100.76 on food, $51.99 on decorations, $26.66 on greeting cards and $19.55 on flowers.
That lump sum of cash is coming from several different areas of life with 38% of people using all or some of their personal savings to cover the cost while 17% will need to borrow to afford it all. So, what’s the most requested gift this holiday season? 59.8% of people say gift cards.