Americans are spending this much on Christmas gifts

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Americans are planning to shell out an average of $830 on Christmas gifts this year, according to a Gallup poll. That's way up from last year, when the average was $720. It's also the highest amount since November 2007.

If you exclude people who won't spend a dime on Christmas gifts, and limit it to U.S. Christmas shoppers alone, the average rises to $908, according to Gallup.

christmas spending

From November 2007 to November 2008, the average spending expectation plummeted from $866 to $616 during the global financial crisis. It's been on a steady climb since then.

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Broken down, the estimate for this year means 30 percent of Americans are expecting to spend at least $1,000 on Christmas gifts, Gallup reported. Those who earn $75,000 or more per year are expecting to spend an average of $1,227 on presents, while middle-income Americans plan to spend $786 on average. People making less than $30,000 per year plan to drop $460 on average.

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Those who have kids under the age of 18 expect to spend more than $1,000, and people without kids that age think they'll spend around $700.

The post Americans Are Spending This Much On Christmas Gifts appeared first on Vocativ.

Related: See how retailers around the world have been preparing for the holiday season:

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