Photo: Mike Macklin/WBZ NewsRadio
BOSTON (WBZ NewsRadio) — The day after Christmas can often be a day of reflection — especially when reviewing your bank statements.
Many shoppers dug deep into their wallets to pay for holiday gifts this season. There were those with the mindset of spend now, regret later, but there were also those who do their best to shop within their Christmas gift budget.
"I give a lot of gift cards pretty much, so I know what I'm going to give. I've already calculated, you know what I mean? I budgeted the amount I'm going to give," Helen of Boston said.
While Helen was able to spend what she was expecting to, that's not something many others can say. A recent report from Mastercard shows that shoppers spent nearly 4% more this year between Nov. 1 and Dec. 21 compared to last year.
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Tariffs and inflation didn't stop many people from spending this year, but shoppers became more selective of their purchases. According to a report from Rocket Mortgage, Americans cutback on holiday decor spending to prioritize gifts.
"I didn't notice many tariff prices and anything really, honestly. It's all been a bunch of smoking mirrors," Dominic of Medford said.
Although he may not have noticed higher prices, the Tax Foundation found that Americans paid millions in tariffs on items such as video game consoles, toys, and scooters.
One shopper suggests considering the receiver of the gift before overspending for the holidays.
"You can just go easily, exceed your budget, but overbuying stuff that maybe never been used. Is it really necessary? Is that person like could use this? And yeah, I'm just like thinking all this stuff."
WBZ NewsRadio’s James Rojas (@JamesRojas.bsky.social) reports.