Holiday shopping: Majority of shoppers overspend on holiday items

The majority of shoppers will overspend on holiday items this season, a survey recently released by TD Bank found.

Credit Card Reform Legislation Would Tighten Rules On Rates And Fees (Getty Images)

 (Getty Images)

Roughly 78 percent of shoppers included in the survey said they will spend more than they should have during the holiday shopping rush, according to TD Bank.  The average shopper will overspend by $215, the survey found.

Roughly half of those survey said they planned to make a budget for holiday spending, but only 70 percent planned to stick to it, the survey found.

“Spending during the holidays can add a lot of stress to what should be a wonderful and relaxing time of year,” said James Capolongo, Head of Deposit Products, Pricing and Fee Income for TD Bank. “By establishing a budget and using a debit card to make the most of your holiday, people can avoid overspending and shift their focus to what matters most – spending time with family and friends.”

The study found that many shoppers treat themselves while shopping, indulge in small impulse purchases like stocking stuffers, or go over budget on incidentals, like wrapping paper and gift cards.