CBS News poll finds Americans say holidays are costing them more, some are scaling back
Many Americans are feeling the pinch this holiday season.
Most feel it's at least somewhat difficult to afford the things they're buying for the holidays. Some are pulling back on gifts, entertainment and travel, particularly those among the majority who say items cost more now than they did last year.
Holiday spending also spotlights the long-standing differences in Americans' financial situations. Those who report their financial situation as good, who tend to have higher incomes, say affording the holidays is easier. But even they say things are costing more.
In all, the season often brings feelings of gratitude and happiness, but finances can factor into sentiments, too: those who say it is hard to afford things are more apt to say the season also brings stress.
With holiday travel coming, many do feel they're getting relief on gas prices. More say they are going down more than going up — the first time we've seen that this year.
Relatively few Americans say they will be buying more gifts, entertainment or airline tickets or food and drinks this holiday season, compared to recent years. Those who say it will be difficult to afford items this year are especially likely to say they will be scaling back on these things.
The people who are keeping purchases steady or buying more this year tend to be those who say their financial situation is good.
Feelings about the holiday season
Overall, the holiday season evokes more positive feelings than negative ones, with many saying they are happy and grateful.
But those who are having difficulty affording holiday expenses are especially likely to report feeling stressed, too.
Looking back on 2025
Views of the economy have been low for years, and 2025 continued that trend. But beneath those sentiments, the year also showed a consistent split between those who feel their finances are good and bad — the former generally having higher incomes and saying the stock market matters to their finances, the latter having lower incomes and being more impacted by prices and inflation.
On personal finances, about half of the country continues to say their financial situation is good, while about half say it is bad, which has been the case throughout the year.
Looking back, overall, for those whose financial situation changed over the year, more said it got worse rather than better. But those who did feel their situation improved were also more likely to be those with higher incomes.
The year ends with most Americans voicing larger concerns about inflation that have persisted for years. Throughout 2025, about three-quarters said their incomes were not keeping pace with inflation. Views of the overall economy remain low.
The public's evaluations of the U.S. job market specifically remain net negative. This comes as the latest government data shows somewhat of a mixed bag: more jobs were added in November than economists expected, but the unemployment rate ticked up to its highest level since September 2021.
Among the bright spots, on balance, more Americans rate the condition of the stock market as good than rate it as bad, and that's particularly so among those for whom the market's performance matters a lot to their finances.
More Americans now say the price of gas in their area is coming down than say it's going up — a reversal from what we saw this fall and over the year.
Throughout the year, like today, Americans have had a collectively mixed outlook looking forward. Just over half of Americans expect a slowing economy or one in recession. While others expect a growing economy or one that holds steady.
This CBS News/YouGov survey was conducted with a nationally representative sample of 2,267 U.S. adults interviewed between December 15-17, 2025. The sample was weighted to be representative of adults nationwide according to gender, age, race, and education, based on the U.S. Census American Community Survey and Current Population Survey, as well as 2024 presidential vote. The margin of error is ±2.5 points.