This Generation Plans to Shop the Most This Holiday Season

It's no secret that the holiday season often leads to overspending. And new data from Discover reveals that one generation may be at risk of going overboard.

A good 35% of millennial consumers expect to spend more this holiday season than last year. By contrast, only 16% of baby boomers, 23% of Gen Xers, and 26% of Gen Zers expect their spending to go up. Furthermore, 39% of millennials anticipate spending $750 or more on gifts alone; only 35% of baby boomers, 33% of Gen Xers, and 11% of Gen Zers expect to spend similarly.

Why are millennials planning to spend so freely? Many cite higher earnings as the reason why, coupled with having added more people to their shopping lists. But while it's nice to want to be generous during the holidays, millennials should take care to safeguard their finances, too.

Source Fool.com