High inflation dampens holiday cheer for St. Louis families struggling with debt
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The average American expects to spend $831 on holiday gifts in 2023, but that's unrealistic for some St. Louis families struggling with debt and unemployment.
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Over half of holiday shoppers can't buy as many gifts as they'd like due to high inflation.
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Many shoppers are using credit cards to buy gifts, risking long-term debt.
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Experts recommend avoiding credit card debt and finding more affordable gift options to signal retailers that prices are too high.
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The Urban League of St. Louis offers workshops to help families reduce debt and create realistic holiday spending plans.