FRESNO, Calif. (KFSN) — When it comes to gift-giving, we’ve all heard it’s the thought that counts, but this year, more shoppers are applying that sentiment to their budget.<\/p>\n
Mary Hines Droesch, financial expert with Bank of America, says that even though debit and credit card spending is up by 3%, people are making choices to make their dollars go further this holiday season.<\/p>\n
As pressure builds on people’s budgets, a recent Bank of America survey shows consumers are re-thinking their shopping strategy.<\/p>\n
“38% are limiting who they’re shopping for this season to immediate family and close friends and being very careful about where they shop, with 87% intending to shop at a discount store this season,” says Droesch.<\/p>\n
Stretching your dollar starts with a budget.<\/p>\n
ABC Price Tracker: See grocery, housing and gas prices where you live<\/a><\/p>\n “Make a list, check it twice and the hard part is sticking to it,” she says.<\/p>\n Make sure the list includes who you want to buy for, how much you want to spend and don’t forget to add the cost of gift-giving expenses, including wrapping paper and scotch tape.<\/p>\n Droesch goes on to say, “Given all of the inflation that people are still experiencing, as well as the uncertainty of tariffs, we’re seeing a huge increase in places like warehouses where you can buy in bulk, get your stocking stuffers and things at a much lower cost.”<\/p>\n But that shift in behavior doesn’t apply to family pets.<\/p>\n “80% are planning on treating their dog, cat or other pet this season,” she says. “Millennials and Gen Z, almost 20% of them said they’re going to spend more on their furry friends than human friends.”<\/p>\n Additional ways to stretch your dollar include leveraging AI to compare prices and making the most of credit card rewards and cash back offers.<\/p>\n For news updates, follow Vanessa Vasconcelos on Facebook<\/a>, X<\/a> and Instagram<\/a>.<\/p>\n Copyright \u00a9 2025 KFSN-TV. All Rights Reserved.<\/p>\n