With the economy singing, more Americans are getting into the holiday spirit. For the most part, that means spending more money.
The National Retail Federation estimates the average consumer will shell out more than $1,000 this season on everything from gifts to food to festive attire — a 4.1 percent increase from last year. Another analysis, from NerdWallet, anticipates an 18 percent jump on gift spending alone, to an average total $776.
But few Americans can afford to be that generous without dipping into a savings account or racking up some debt, which will come back to bite you in the new year.