Cheers! Average American Drops More Than $1,500 On Holiday Expenses

NEW YORK — Have you ever thought about just how much money you put into each holiday season? We’re talking more than just buying gifts — the amount you spend on decorations, dinners, desserts, booze, and other party essentials. A new study finds that Americans will fork out nearly $100,000 in their lifetime on holiday-related expenses.

Researchers surveyed 2,000 adults and calculated the average person will spend $1,556 each year for the holidays. That equates to $93,360 over a typical lifetime. Broken down more specifically, the average American annually drops:

  • $375 on gifts
  • $235 on decorations
  • $301 on food and drinks
  • $317 on kitchen an dining essentials
  • $328 on cleaning and storage essentials

The study, commissioned by Lowe’s, found that seven in ten respondents wind up spending more on than home during the holidays than any other time of year. Perhaps it’s to prep for all the celebrations: the survey showed the average host will entertain 10 people for the holidays.

Getting the house ready for the holidays means more than just hanging up stockings, decorations, and lights. More than 70 percent of respondents say they feel a need to renovate their home before having guests. The living room was most likely to get a makeover, with three in ten agreeing that was the most important room to redo. Rounding out the top five rooms to renovate were the kitchen, followed by a tie between the guest bedroom and dining room, and the guest bathroom.

Painting was also a priority. More than a quarter (27 percent) of respondents planned on painting their homes before guests arrive to celebrate.

Still, with all the work to be done, 30 percent of Americans feel their house is never ready for guests come Christmastime. That said, based on survey responses, the researchers put together a list of the Top 10 Jobs To Get ‘Guest Ready’ During The Holidays:

  1. ’Stock the fridge and pantry 66%
  2. Buy gifts/presents 65%
  3. Clean the house/hire cleaning service 63%
  4. Prepare delicious food 61%
  5. Dust/vacuum 61%
  6. Wrap gifts/presents 61%
  7. Put up holiday decorations 59%
  8. Bake cookies/treats 56%
  9. Do the laundry 55%
  10. Stock up on essential toiletries 50%

The survey was conducted by OnePoll in October 2018.

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