How Much do American’s Spend on Gifts?

It’s that time of year where we all brave the crowds and head out to purchase gifts for our friends and family, but does anyone know how much we really spend each year?

TurboTax – yes, the people behind the tax software – put together this handy inforgraphic that shows estimates that we will spend 2.8% more this year than we did last year, bringing the total up to $465.6 billion.  According to their information, the average person will spend $515.94 this year, with the majority of that going to family members.  Of course, you could take the tact my family is this year and we’re giving each other projects we’ve been putting off and nothing financial.  Sorry, TurboTax, we’re throwing off the curve.  Someone will have to make up our difference this year.

How much are you planning on spending?

TurboTax Holiday Spending

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