With Halloween just a day away and consumers expected to spend roughly $11.6 billion on the occasion, the personal-finance website WalletHub today announced the results of its nationally representative Halloween Spending & Financial Fears Survey. WalletHub also released its picks for 2024’s Worst Credit Cards to highlight scary offers that people should avoid, along with money-saving alternatives.- Scary Finances: 57% of Americans say their finances are a horror show.
- Economic Unease: 46% of people are very fearful of this economy.
- Shrinking Halloween Budget: 57% of people say they’re planning to spend less on Halloween this year compared to last year.
- Interest Rate Terror: 7 in 10 Americans fear credit card interest rates more than haunted houses.
- Money Nightmares: 64% of Americans say they have nightmares about money problems.
- Debt for Halloween: Nearly 2 in 5 Americans say Halloween is worth going into debt for.
- Top Financial Fears: 28% of Americans say an unplanned emergency is their biggest financial fear, while 20% say it's not having enough retirement savings and 17% say it’s job loss.
- Worst Credit Cards: 2024’s picks charge fees up to $995 and have APRs as high as 36%.
“Halloween spookiness is limited to a single day on the calendar each year, but financial fears haunt many Americans all year long. A new WalletHub survey found that 64% of people have nightmares about money, and 57% of people think their finances are a horror show. Inflation and record-high interest rates obviously aren’t helping people sleep at night, as 7 in 10 Americans say they fear credit card interest rates more than haunted houses. The remedy, of course, is to confront these fears head on. A plan of attack for minimizing debt, adding to savings and building up your financial defenses will go a long way.”
- John Kiernan, WalletHub Editor
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