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Story summary
- Americans are expected to spend $890.45 per person during the holiday season, near the 2021 record high.
- Many consumers plan to allocate about $627.93 for gifts, with additional costs for decorations, travel, and entertaining.
- Financial experts advise budgeting 1% to 2% of annual income for gifts, or using a zero-based budget.
- To avoid overspending, shoppers should set spending limits, use cash-only methods, and consider DIY gifts.
