After several years of stubborn inflation and steep borrowing costs, this holiday season finds many families determined to celebrate — but quietly worried about how much they’re spending.

With the average American planning to shell out roughly $1,700 on gifts, travel, and entertaining this year (up from about $1,430 in 2022) those worries are understandable.

Furthermore, tariffs have already raised prices by an average of 5%, according to the Harvard Business School Pricing Lab’s analysis of more than 350,000 goods. Ultimately, companies pass along their increased costs to consumers. Frequent holiday staples like toys, electronics and clothing are some of the products most impacted by tariffs, with costs increasing as much as 35% in some categories.

Even for people who manage to stay wi

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