A WalletHub study revealed nearly half of Americans are still paying off debt from last Christmas, even as they pile onto that debt for this year’s holiday season
Carleen Johnson
The Center Square Washington
In the final hours of the season’s Christmas shopping madness, there’s a good chance many Americans are breaking out credit cards to pay for last-minute gifts, holiday meals or travel expenses.
A WalletHub study revealed nearly half of Americans are still paying off debt from last Christmas, even as they pile onto that debt for this year’s holiday season.
“The fact that people are still paying off debt from last holiday season makes you wonder if they are going to fall into that trap again or are they cutting back because of last year’s debt,” asked WalletHub’s Chip Lupo.
“In 2023, nearly one-in-four Americans had holiday debt from the year before, so that number essentially doubled from last year,” he said.
The same study revealed “68% of Americans say Santa will be on a budget this year because of inflation,” according to Lupo who told The Center Square that holiday budgets this year range from just over $200 to more than $4,000, depending on income, existing debt, and cost of living.
Another recent poll by Gallup found the average American will spend $1,012 for Christmas this year, up from $975 in last year’s survey.
Credit card debt for the average household as of the third quarter of 2024, was around $10,757 after adjusting for inflation, according to WalletHub.
Other findings from the study:
- 52% said they would apply for a new credit card to help with holiday shopping.
- 72% in the study said their charitable giving is down this year due to inflation.
- 55% of people surveyed would like to outsource their holiday shopping to an AI robot.
For those hitting the road for the holidays, Washington gas prices are 26-cents lower than this time last year. The average price per gallon on Monday according to Triple-A is $3.91. It was $4.16 last year.
Washington gas prices are still nearly 90-cents higher per gallon than the national average.
This report was first published by The Center Square Washington.
Also read:
- Letter: Rising property values hurt our community
A Hockinson resident argues that rising property values and taxes are forcing longtime neighbors out of the community and eroding its social fabric. - Truck crashes into apartment complex
Vancouver firefighters responded to a vehicle that struck an apartment complex, resulting in one resident being displaced and the driver transported to a local hospital. - Woodland School District secures $600,000 grant for essential repairs
Woodland School District received a $600,000 state Urgent Repair Grant to fund fire alarm upgrades at Woodland Middle School and roof repairs at Columbia Elementary. - Clark County launches new equitable park access programs in 2026, including free-parking days
Clark County is introducing new park access programs in 2026 that include free parking days and a library-based parking pass checkout option. - Additional measles exposure site identified in Ridgefield
Clark County Public Health identified an additional measles exposure location in Ridgefield involving a medical clinic visit while a confirmed case was contagious. - The Study of Sports Podcast Jan. 31, 2026: We discuss how the 2A GSHL football is about to change in a major way, plus some Seahawks talk, too
The Jan. 31 episode of the Study of Sports Podcast covers major upcoming changes to 2A GSHL football, local high school sports updates, and discussion of the Seattle Seahawks. - Fort Vancouver athletics improving under partnership with Trico League
Fort Vancouver High School athletics are showing measurable gains in competition and participation during the second year of a partnership competing in the Class 1A Trico League.
