Most Of Us Will Spend Less On Easter This Year, New Study Finds

HUDSON VALLEY, NY — Inflation won't stop the Hudson Valley from celebrating Easter, but a new study finds that most of us will be tightening our belts this year.

WalletHub released its annual Easter Survey, which found that 69 percent of Americans who celebrate the holiday plan to spend less on Easter this year than they did in 2022.

The WalletHub experts say there are a few ways to trim the Easter budget that are less painful than others.

"I fully recognize that many people simply do not have time to cook, but if at all possible, preparing homemade food will always be more economical than buying items pre-made," New York City College of Technology Professor Claire Stewart said. "Baking is especially economical and also something that families can enjoy doing together. Or split the difference and make a cake from a cake mix, or muffins from a mix, which you still prepare, but are far less costly than sourcing from a bakery. Depending on the weather in your area, you may want to move outside and have a barbecue. Instead of roasting a leg of lamb or cooking a ham, make skewers that can be prepped and marinated the day before. Many people would not be disappointed to find no meat on the menu. Or consider serving less meat, as meat is especially expensive now."

Inflation has a big impact on this trend, according to respondents. Nearly half of those who responded expect inflation to impact their Easter spending this year. But the cutbacks won't just come in fewer chocolate bunnies and smaller Easter baskets — some people are decreasing charitable donations as well.

A full 28 percent of Easter-celebrating Americans plan to donate less than the usual amount to their church this Easter and Uncle Sam isn't likely to stall this particular trend. Taxes don’t matter as much for church donations, according to the study. Nearly 70 percent of the respondents said they don’t consider the tax benefits when making religious donations.

There is some good news for the less generous offerings in the collection plate over the holiday. Religious organizations should benefit from the upcoming tax refund season. 21 percent say they will donate some of their tax refund to a religious organization.

The bottom line from the study is that many of us lack financial confidence to let go of our hard-earned cash this Easter. According to the personal finance site, 44 percent of Americans don’t feel confident about their finances heading into spring.

That doesn't mean that the holiday will be forsaken entirely by those who normally celebrate.

More than 56 percent of Americans plan to shop for Easter 2023, spending on average $287.35, according to the survey. Most of that money will be spent on candy and other food.

The top spending categories for Easter 2023 are:

• Candy: 73 percent
• Food & beverage: 44 percent
• Toys: 39 percent
• Clothing: 34 perecent
• Greeting cards: 31 percent
• Decorations: 29 perent

As you might expect, the main recipients of this spending are children. A majority, 65 percent of respondents, said they’re planning to shop for kids this Easter.

Walmart is the top shopping destination for Easter this year by far, according to the survey. With most saying they will do at least some of their shopping at the retail giant:

• Walmart: 76 percent
• Amazon: 40 percent
• Target: 36 percent
• Wholesale Retailers (Sam’s, Costco): 13 percent.

Peanut Butter Eggs Are the Top Easter Candy (again), but chocolate bunnies are a surprisingly distant second:

• Reese’s Peanut Butter Eggs: 51 percent
• Chocolate Bunnies: 17 percent
• Cadbury Eggs: 13 percent
• Jellybeans: 12 percent
• Peeps: 7 percent

Source: WalletHub