Parents plan on adding to their debt for holidays

National

A new study suggests nearly 20 percent of parents with kids under 18 plan to add $1,000 of debt for holiday shopping.

(FOX NEWS) — Parents particularly feeling the pinch this holiday season.

A new survey by Bankrate shows parents feel the most pressure to spend more than they should during the holidays.

This includes everything from traveling and donating to charity, to giftgiving and social gatherings.

71 percent of parents with kids younger than 18 feel the need to over-spend on gifts. They’re also the most willing to re-gift or buy second-hand items.

According to the National Retail Federation, consumers are expected to spend roughly $1,048-dollars on average during the season, an up-tick of four-percent from last year.

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