Knowledge Center
This Holiday Season, Approach Your Spending with an Eye on Saving
saving-money | Read Time: 3 minutes
By Shari Kruzinski | Published: November 2021

It seems everywhere we turn right now, experts are telling us to start our holiday shopping early, as supply chain challenges are expected to impact inventories for a large variety of products through the end of the year and possibly beyond.
Coupled with rising inflation, this year’s holiday shopping budgets may feel particularly crunched, and residents throughout the Greater Philadelphia and Delaware region are taking notice.

Rising gas prices aren’t helping consumers’ outlook either.
Now for the good news!
Despite some overall pulling back on spending, a generation of emerging consumers are preparing to spend more on holiday-related expenses.

Generation Z (18–24-year-olds) appears poised to spread the holiday joy this year, as 38% of these younger respondents plan to increase their spending on gifts, celebrate more at local restaurants and bars (41% compared to 27% overall) or host and attend at-home gatherings (41% vs. 30%).
They are staying local and ready to spend, which is great news for Main Street businesses throughout the region.
Even more promising? More than one-quarter (28%) of all regional respondents still plan to spend their holiday budgets on local shopping this year, with 61% of those planning to shop local citing they want to support local businesses and nearly half (49%) preferring the personal touch of buying gifts from small businesses. Forty-one percent also prefer the small business shopping experience over large chains and shopping malls.

This presents a wonderful opportunity for local small businesses in our communities to bounce back in a big way this holiday season. Many small businesses in the region have adapted to changing consumer preferences, expanding e-commerce and adding services like door-to-door delivery to compete with online shopping.
Many of them also have unique offerings that won’t break your budget and can’t be found online or at big box retailers, helping you avoid inflated prices on mainstream items. And with some popular items being tough to find because of a squeezed supply chain, this year could be a good one to purchase local experiences or tickets to events that can be used throughout the year.
As you navigate the holidays this year, look for alternatives for hard-to-find gifts that may save you money so when you do need to splurge, it won’t break your overall budget.
Learn more about holiday budgeting tips and tricks that won’t break the bank.
Planning for 2022? Take these steps now to save money for NEXT year.
It’s important to use credit wisely. Learn more about tips and tricks to help you plan effectively.
About the Author – Shari Kruzinski
Shari Kruzinski is Executive Vice President and Chief Customer Officer at WSFS Bank. Her career spans more than 30 years in the banking industry, including 31 years with WSFS. In her current position, Shari leads the Bank’s Customer division including Customer Experience and enterprise-wide Customer initiatives. She also oversees the Bank’s retail offices, contact center, and retail operations.
Related Articles

Do You Have the Right Credit Card or Loan for Your Financial Situation?
Many people know the importance of establishing and building credit and using it wisely, so they have good credit. While there are many tips and resources to learn how to manage credit, reduce debt and increase their scores, the types of credit available to them and which are best suited to their needs can sometimes be overlooked.
Read More
Tips to Stretch Your Budget and Save More in 2022
Saving and spending are always hot topics this time of year, as holiday shopping is in high gear and people start thinking about their 2022 budgets. This year is no different, with four in 10 (42%) of people in the Greater Philadelphia and Delaware region planning to save more to help ensure future financial stability, according to a recent WSFS Bank Money Trends survey.
Read More
‘Tis the Season to Shop Local! How to Support Local Businesses
As consumers throughout the Greater Philadelphia and Delaware region gear up for the holiday shopping extravaganza, experts are warning us about supply chain issues, rising prices, shipping delays and more obstacles to find the perfect gifts for our friends and family. The solution? Do your holiday shopping on Main Street this year.
Read More
Tips to Manage Early Holiday Shopping with Rising Prices and Shrinking Inventory This Year
With the holidays fast approaching, consumers are understandably concerned about the impacts of inflation, supply chain issues, and recommendations from retail experts to shop even earlier than normal. Add in the fact that four in 10 (42%) of Greater Philadelphia and Delaware region consumers are saving more now than they were earlier in the pandemic because they want more financial stability, according to a new WSFS Bank Money Trends study, and it explains why consumers are preparing to spend less on gifts, dining and travel this holiday season.
Read More
Regional Consumers Weary of Rising Prices and Economic Stability, Spurring Delays in Large Purchases and Expected Decreased Holiday Spending
Generation Z more optimistic that they will spend more on gifts this holiday season, prefer to celebrate locally versus traveling
Read More