Question of the Day: What percent of Americans say Halloween is worth going into debt for?
Going into debt for Halloween might sound like a nightmare, but a scary number of people are willing to do it!
Answer: 20% (Around 1 in 5)
- Why might some individuals think it’s worth going into debt for a one-day event like Halloween?
- How might societal or peer pressure influence spending habits, especially around holidays and special events?
- How does the commercialization of holidays influence our spending behaviors?
- What are some alternative ways to celebrate Halloween without spending a large amount of money?
Behind the Numbers (WalletHub):
- Inflation Still Haunts Us: 34% of people think inflation is the scariest thing about Halloween this year.
- Financial Nightmares Are Common: 47% of Americans say they have nightmares about money problems.
- Money Fears Grip the Youth: 70% more Americans between the ages of 18 and 29 say they have nightmares about money problems, compared to Americans who are 60+ years old.
- Spooky Priorities: Nearly 1 in 5 Americans say Halloween is worth going into debt for.
- Halloween Spending Decline: 77% of people say they plan to spend less on Halloween this year than last year.
- Biggest Financial Fear: 27% of Americans say not having enough retirement savings is their biggest financial fear, and another 27% of Americans say it's an unplanned emergency.
- Tricky Reputation: More than 2 in 3 people think credit cards are a trick rather than a treat.
Looking for more spooky statistics? Check out our past Halloween-themed blog posts.
NGPF's Managing Credit unit will help keep your students from being haunted by overwhelming debt.