Nearly Half of Gen Z Have Skipped or Delayed Rent or Mortgage Payments to Afford Holiday Spending, New Survey Finds

Accredited Debt Relief survey reveals the high cost of holiday expectations: 62% of Americans say spending pressures have gotten out of hand, while 46% would skip gift-giving if no one would be disappointed

CHICAGO, Nov. 10, 2026 /PRNewswire/ -- Holiday spending is putting more than a dent in Americans' already strained wallets. For some, it's taking priority over rent, mortgage payments and other financial essentials. A new survey commissioned by Accredited Debt Relief finds that 46% of Gen Z respondents have delayed or skipped a rent or mortgage payment to afford holiday spending, compared with 28% of millennials, 14% of Gen X and just 3% of baby boomers.

The findings reveal a troubling disconnect between holiday demands and financial realities. Nearly two-thirds of Americans (62%) believe expectations around holiday spending have become excessive or unrealistic, yet many are making significant financial sacrifices to keep up. In fact, 46% say they would skip holiday gift-giving altogether if they could do so without disappointing or offending anyone.

The Financial Cost of Holiday Cheer

The survey of 2,000 U.S. adults who celebrate a winter holiday reveals that holiday spending is competing with everyday financial priorities. To make room in their holiday budgets, Americans report cutting back on:

• Groceries and everyday necessities: 19%
• Paying down debt or loans: 14%
• Savings and emergency fund contributions: 14%
• Monthly bills: 11%
• Medications: 7%
• Healthcare or medical expenses: 7%

Beyond reducing everyday expenses, 35% report pulling money from savings to cover holiday spending, while 19% have delayed or skipped paying a regular bill. Another 20% report reducing or skipping a retirement contribution to pay for holiday expenses.

"Holiday spending should never come at the expense of someone's financial stability, but these findings show just how difficult it can be to balance financial responsibilities with the social expectations and pressure to create a memorable holiday," said Bobbi Rebell, chief financial education advisor, Accredited Debt Relief. "When people feel pressure to choose the holidays over their real-life financial obligations, it's a sign that something needs to change. Making tough choices around spending may feel like you are disappointing those you care about, but protecting your financial future needs to be non-negotiable."

Gen Z Faces the Greatest Financial Trade-Offs

The financial sacrifices associated with holiday spending are especially pronounced among younger Americans, with more than one-third of Gen Z (36%) having delayed or skipped a regular bill payment outside of mortgage or rent, compared with 27% of millennials, 19% of Gen X and 6% of boomers.

Younger consumers are also more likely to tap into savings to pay for holiday expenses like gifts, hosting and travel. Nearly half of Gen Z (48%) and 43% of millennials report pulling money from savings, compared with 31% of Gen X and 24% of boomers.

Together, the findings underscore the financial pressures facing younger Americans, who are more likely to report sacrificing essential payments and savings to keep up with holiday spending.

The Hidden Expenses That Push Holiday Budgets Over the Edge

While gifts and travel are often the most visible holiday expenses, smaller, easily overlooked costs can create additional financial strain. Among respondents who identified forgotten holiday expenses:

• 36% typically charge those expenses to a credit card.
• 31% say the added costs can push them from a barely stable financial position into a financial danger zone.
• 27% say unexpected expenses make holiday spending feel out of control and negatively affect their mental health.
• 24% report stress-related disagreements with their partners.

These unexpected costs can be particularly challenging for households already struggling to manage everyday expenses.

"One of the biggest holiday budgeting mistakes is focusing on the gifts while overlooking everything else that comes with the season," added Rebell. "Shipping, decorations, entertaining and last-minute purchases can add up quickly. And when those expenses go on a credit card without a clear repayment plan, the financial consequences can last long after the holidays are over."

Holiday Debt Lingers Long After the Season Ends

Nearly half of Americans (45%) have already taken on or expect to take on holiday debt this year, including 14% who have already incurred debt and 31% who anticipate doing so. Younger generations face the greatest debt burden, with 67% of Gen Z and 55% of millennials reporting actual or anticipated holiday debt, compared with 28% of baby boomers.

This financial impact can last well beyond the holidays. Nearly 15% of Americans are still paying off debt from the past 2025 holiday season, including 23% of Gen Z and 21% of millennials. Among those who have incurred or anticipate holiday debt this year, 45% expect to pay it off by March 2027, while 20% are unsure when they'll be debt-free. The findings highlight how holiday spending can create financial strain that carries into the following year.

"The holidays should be about connection, not financial pressure. It's okay to have honest conversations about spending limits, simplify traditions or rethink gift-giving altogether. The best gift you can give yourself and your family is starting the new year on a stronger financial footing," said Rebell.

About the Survey

Talker Research conducted a random double-opt-in survey of 2,000 U.S. adults aged 18 and older who celebrate a winter holiday, October 16–20, 2026, on behalf of Accredited Debt Relief.

About Accredited Debt Relief

Accredited Debt Relief is a leading debt consolidation and debt relief company that has helped more than 1.3 million clients take meaningful steps toward getting out of debt. Since 2011, the company has resolved more than $15 billion in debt.

Accredited Debt Relief is recognized for its client-first approach and has received multiple ConsumerAffairs Buyer's Choice Awards, as well as recognition for customer satisfaction from Bankrate and other leading financial publications. The company also maintains an A+ rating with the Better Business Bureau, accreditation from the Association for Consumer Debt Relief (ACDR) and an Excellent Trustpilot rating supported by thousands of five-star reviews.

SOURCE Accredited Debt Relief