According to the First Command Financial Behaviors Index®, middle-class military families (those in pay grades E-6 and above with household incomes of $50,000 or more are pursuing a variety of frugal holiday strategies this year. In addition to spending less on gifts, they are:
- Giving gifts to fewer people. This approach is identified by 46 percent of survey respondents, up 11 points from 2012 and 18 points from 2011.
- Giving fewer gifts per person (40 percent)
- Setting a maximum amount for gifts (37 percent)
- Staying closer to home / reducing travel (36 percent). Notably, half of this group (51 percent) say they will be staying at home this year – up 12 points from 2012.
- Spending less on decorations (27 percent)
- Buying gifts from discount stores (25 percent)
This holiday season marks the sixth consecutive year that the Index has pointed to leaner spending in military families, continuing a larger trend toward frugal living.