Inflation Conflicts with the Upcoming Holiday Season

As the holidays are fast approaching, inflation is still an issue that exists, especially for the middle and lower classes. Holiday shopping has already started, and many have started to cut back on the number of gifts they’re willing to buy. Even with Black Friday and Cyber Monday sales, many Americans have been cautious with how much they spend, and prices on these days were still out of families’ comfort zones. So, what does this mean for the upcoming holiday season?

Along with inflation, and the recent pandemic, not everyone will be able to buy what they would like for the holidays. With families that are in the lower classes, some families may not even be able to afford gifts for everyone. The average household makes around $50,000 a year, but with inflation, this could go beyond their budget. If inflation continues throughout the following year, next year’s holiday season could be even worse than what we’re currently facing.

Saving money is also a difficult task, especially for those who live paycheck to paycheck. But, it is still possible to save extra to afford your shopping list this year. It’s better to start saving and shopping sooner before prices skyrocket even further because of the holiday season. Plus, take advantage of Black Friday and Cyber Monday – and not just the big companies. Lots of smaller businesses hold great and even better sales that could save you that extra penny for another gift.

Even with inflation this year, always strive to make your holidays memorable, as it isn’t always about the money – it’s about spending time with your family.