Fourth of July Spending Expected to Be Way Down in 2020
No one should ever take the Fourth of July holiday for granted. It represents the freedoms that we hold so dear and the birth of the nation that we all call home.
As we get ready to celebrate Independence Day 2020, I think it's pretty safe to say that we all have a special appreciation for the holiday this time around.
After dealing with the COVID-19 pandemic, it's going to feel really good to get out and enjoy (responsibly of course) all that the fourth has to offer with family and friends.
It will no doubt feel different this year and, according to a new survey, our celebrations will be a bit more understated than past fourths.
According to WalletHub, nearly 80 percent of Americans (78%) will spend less money this 4th of July compared to last year, when we forked out $6.7 billion on food, travel, patriotic decorations, and more.
There are several contributing factors to the downturn in spending:
- Americans are feeling more restricted. 82% say they feel less free this year than last year.
- Summer plans put off or canceled. Only 25% of summer plans were kept, while 37% were postponed and 38% were canceled.
- July 4th celebrations kept local. This July 4th, 74% of Americans will not travel.
- Patriotism declining. Almost 1 in 3 Americans feel less patriotic this year than last.
Regardless of how much, or how little, you're spending on your Fourth of July celebration in 2020, remember it's not about the money, it's about the memories!
You've earned it...