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Easter spending expected to increase this year, while debt consolidation can help with old holiday debts
By Edith Barlow on Mar 30th, 2010
Trying to control spending is one way consumers can help with trying to pay off debt, though holidays may make this more difficult.
According to a recent survey from the National Retail Federation and BIGresearch, spending on Easter is expected to go up slightly this year. In 2008, average spending on the holiday came in at $116.59, whereas this year it is forecast to come in at $118.60.
The total amount that will be spent on Easter-related items is expected to come in at $13.03 billion.
"Warmer weather and special holiday promotions are the perfect mix to get people out of their homes and into stores as spring approaches," said Tracey Mullin, president and CEO of the NRF.
Spending on both candy and gifts is forecast to go up based on the survey. The average amount people plan on spending on candy went up from $16.55 to $17.29. Money put toward gifts is slated to go up from $17.30 to $18.16.
Though some consumers may expect to spend more on Easter, others may still be trying to deal with debts accrued during the winter holiday season. Consumers who are having trouble may consider debt consolidation, which can help reduce the amount of interest they will end up paying for credit card charges.
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