With inflation increasing the cost of goods and services, many Americans are turning to holiday shopping events like Cyber Monday 2024, which falls on Dec. 2nd, to give their wallets some relief while buying presents.
How much do Americans spend on holiday shopping? This year, they are expected to spend 8% more—around $1.8k in total.1 With 28% of polled credit card users reporting that they are still paying off holiday debt from last year,1 planning is crucial to ensure the season of giving doesn’t leave you with more financial stress than holiday cheer.
The best account options, like a high-yield savings account (HYSA) and select checking accounts, also allow you to earn interest on your balance.
Cyber Monday, which is on December 2, 2024, is one of the biggest online shopping days of the year, offering incredible deals and discounts that make it easy to fill your virtual cart.