More overspent this holiday; Owe avg $1,249…

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More Americans got into the spirit this holiday, even if it meant spending more than they could afford.

Between buying presents, plane tickets and party supplies, 36% of consumers went into debt, owing an average of $1,249, according to a survey by LendingTree.

Most holiday borrowers with debt put it on their credit cards, although for the first time, nearly 40% of Americans used so-called buy now, pay later financing to spread out their expenses, the report found, which polled more than 2,000 adults from Dec. 14 to Dec. 20.

www.cnbc.com/2021/12/29/more-americans-took-on-holiday-debt-this-year-owing-an-average-1249.html

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