Budgets and diets have one thing in common: both tend to be broken during the holidays. Even people who have been careful with their money all year long tend to go a little crazy once the Christmas lights go up.
According to the National Retail Foundation (NRF), in 2016 the average American expects to spend $935.58 during the holiday season. That figure includes food, decorations, flowers, greeting cards, holiday treats and, of course, gifts. NRF survey respondents said they planned to spend $588.90 on gifts for others – roughly 63% of their total holiday spending.