'Inflation is like a regressive tax,' economist says — only one group can 'easily afford' holiday spending this year [CNBC]
NerdWallet, Inc. (NRDS)
Company Research
Source: CNBC
Over 50% of shoppers with incomes of $100,000 or more believe they can "easily afford" holiday expenses in 2024. That's the highest compared to other income groups, according to a report by Morning Consult, a survey research firm. Only one cohort of shoppers thinks they have enough financial runway to spend cash this holiday season without rolling into debt — and even so, many in that group anticipate struggling. About half, or 52%, of shoppers with incomes of $100,000 or more believe they can "easily afford" holiday expenses in 2024, according to Morning Consult, a survey research firm. That's the highest share compared to other income groups. To that point, 33% of those who earn $50,000 to $99,900 said they can afford holiday spending. Meanwhile, 18% of respondents who earn below $50,000 annually can sustain the costs, the report found. More from Personal Finance: Don't wait too long for year-end Roth IRA conversions 28% of credit card users are still paying off las
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