The holiday season is here, which means quality time with family, cozy winter nights and Mariah Carey Christmas classics on repeat. But as adults, the holidays could also mean spending hundreds — and even thousands — of dollars on gifts for your loved ones.

The National Retail Federation (NRF) expects average consumer spending to reach a record high this year of $902 per person across gifts, food, decorations, and other seasonal items. This number is based on a consumer survey of 8,191 consumers conducted by Prosper Insights & Analytics. The holiday retail forecast from Deloitte anticipates an even higher number of $1,778 ( 8% from 2023) based on its survey of more than 4,000 U.S. consumers.

Your budget might be well above or below these two numbers based on your financial situation. Still, it’s helpful to know what the average American plans to spend so you have an idea of what’s “normal” this holiday season.

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