Think Finance, a provider of payday loans, recently surveyed 1,000 Americans across all income levels on Christmas and shopping, reports CNBC.com.
According to the Think Finance poll, 45 percent said the holiday season brings so much financial pressure and they would prefer to skip it altogether. Almost half of those polled said their level of stress related to holiday expenses is "high or extremely high."
85 percent said they plan to spend the same amount of money or less on gifts this year, with 54 percent planning to spend $500 or less, and 27 percent planning to spend between $500 and $1,000 on gifts.
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Half of the consumers polled in the survey who make between $75,000 and $99,999, said they would put items on layaway, and 32 percent who earn more than $100,000 said they used layway.
59 percent expect to carry debt with them into the New Year.