Millennials Will Shell Out Nearly $1,000 Hosting December Holiday Parties

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[{"type":"text","content":"LendingTree Survey Finds 44% of Americans Expect to Incur Debt Due to Hosting\n\n\nCHARLOTTE, N.C., Dec. 7, 2021 /PRNewswire/ -- While the reason for the season may have very little to do with spending money, in reality, celebrating the holidays can cost a pretty penny. \n\n \n \n \n \n \n \n\n \nLendingTree surveyed more than 2,000 Americans and found that almost 30% of Americans plan to host December holiday gatherings and anticipate spending about $760 to provide their guests with drinks, food and gifts.\nMillennials, in particular, plan to spend big time on gatherings this December — $981 — more than any other generation reported. To help cover these expenses, 55% of millennials say they may have to take on debt to do so.\nKey findings\nNearly 30% of Americans have firm plans to host December holiday gatherings at their home, expecting to spend about $760 on the occasion. Their most common expenses include food and drink, gifts for guests and home decor. Millennial party hosts will spend $981 this December — more than any other generation — and 55% say they might incur debt as a result. Across holiday hosts of all ages, 44% say it's at least somewhat likely they'll incur related debt. Americans who attend these December holiday parties (about 40% have plans to do so) will spend $213 on gifts for their hosts. 65% of Americans say they bring gifts for the host when attending a holiday party, but only 10% of hosts say they are offended when guests don't bring them a gift. The perfect gift for a host is a nice bottle of wine or other alcoholic beverage, according to Americans (selected by 39%). That's followed by baked goods (18%) and plants or flowers (8%).\"Americans love few things more than a good party, and after the last two years with all we've been through, it makes all the sense in the world that people would be eager to throw a big one, even if it means a little bit of debt,\" says Matt Schulz, LendingTree's credit card expert. \"The trouble comes when people overdo it too much and that little bit of debt ends up being a big problem.\"\nTo view the full report, visit: https://www.lendingtree.com/credit-cards/study/millennials-spend-nearly-1000-hosting-holiday-parties/. \nMethodology\nLendingTree commissioned Qualtrics to conduct an online survey of 2,049 U.S. consumers from Nov. 3-5, 2021. The survey was administered u...

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