GEN•MoneyLion’s Nov. 10 report found 70% of Americans worried about holiday finances and nearly 1 in 5 expecting holiday credit card debt. Nearly one-third of prospective borrowers anticipate owing at least $300.
MoneyLion’s report found that 70% of Americans are worried about holiday finances, with Gen Z reporting the greatest concern. Nearly one in five expect holiday credit card debt, and nearly one-third of prospective borrowers anticipate owing $300 or more.
Millennials plan the highest gift spending, with one in four expecting to spend at least $1,000. Cash is the preferred gift for 59% of Americans across generations. Texas ranks highest for holiday financial strain, while Western consumers are more likely to borrow than those in the South or Midwest.
