Millions of Americans will participate in group activities this Easter, like going to church services, having family dinners or hunting for Easter eggs. Inflation may have an impact on exactly how extravagant celebrations are, though. A recent nationally-representative WalletHub survey found that 69% of Easter-celebrating Americans are planning to spend less on Easter this year than they did in 2022. One of the major causes of this is likely the fact that people have had to budget a lot more money for basic living expenses recently, and thus have less to spend on the holiday.
WalletHub’s survey aimed to find out Americans’ attitudes regarding the Easter holiday this season, including their thoughts on charitable giving, spending and religion during this period of high inflation.
Key Stats
- Inflation has a big impact. Nearly half of Easter observers expect inflation to impact their Easter spending this year.
- Some people are decreasing donations. 28% of Easter-celebrating Americans plan to donate less than the usual amount to their church this Easter.
- Taxes don’t matter as much for church donations. Nearly 70% of people say they don’t consider the tax benefits when making religious donations.
- Religious organizations will benefit from tax refunds. 21% of people say they will donate some of their tax refund to a religious organization.
- Many people lack financial confidence. 44% of Americans don’t feel confident about their finances heading into spring.
Ask the Experts
In order to provide further insight on Easter as high inflation continues to impact the country, WalletHub turned to a panel of experts. Click on the experts below to view their bios and responses to the following key questions:
- Why do you think 69% of Easter-celebrating Americans will spend less money on the holiday this year compared to last year?
- How big of an impact has inflation had on church finances?
- Around 44% of Americans don't feel confident in their finances heading into spring. What steps can people take to improve their confidence?
Ask the Experts
Associate Professor of Finance and Economics, Joseph W. Luter, III School of Business and Associate Director, Public History Center – Christopher Newport University
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Ph.D., CFP® – Assistant Professor, Director of Financial Planning and Financial Literacy, School of Business and Leadership – University of Charleston
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Ph.D. – Professor of Economics, William D. Hoover School of Accounting, Financial, and Information Services – University of Louisiana at Monroe
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Ph.D., CFA, CFP, CLU, CVA – Professor of Finance and Bickley Faculty Fellow in Finance and Insurance; Department of Economics, Finance and Legal Studies – The University of Alabama
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Professor Emeritus, Chambers Business and Economics, Chair – West Virginia University
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Retired Professor of Finance – University of Louisville and author of “Your Total Wealth…. The Heart and Soul of Financial Literacy”
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Survey Methodology
This report reflects the results of a nationally representative online survey of nearly 230 respondents.
After we collected all responses, we normalized the data by age, gender, and income so the sample would reflect U.S. demographics.
Full Details Overall
| Do you have an Easter budget? | |
|---|---|
| No | 61% |
| Yes | 39% |
| Did you give up something monetary for Lent this year? | |
| No | 78% |
| Yes | 22% |
| How did you celebrate Easter LAST year? (check all that apply) | |
| Friends and family get together | 67% |
| Stay at home | 35% |
| Church | 29% |
| Meal at a restaurant | 18% |
| How will you celebrate Easter THIS year? (check all that apply) | |
| Friends and family get together | 56% |
| Stay at home | 41% |
| Church | 30% |
| Meal at a restaurant | 18% |
| Will inflation affect your Easter spending this year? | |
| No | 52% |
| Yes | 48% |
| Do you consider the tax benefits when making religious donations? | |
| No | 69% |
| Yes | 31% |
| Do you feel confident about your finances heading into the spring? | |
| Yes | 56% |
| No | 44% |
| How much will you donate to your church this Easter? | |
| Normal amount | 64% |
| Less than usual | 28% |
| More than usual | 8% |
| Will you donate some of your tax refund to a religious organization? | |
| No | 79% |
| Yes | 21% |
| Are you planning to spend more or less on Easter this year than in 2022? | |
| Less | 69% |
| More | 31% |
Note: Percentages may not total 100% due to rounding.
