The USA sure does love the Fourth of July! There’s a lot we do to celebrate our history, throwing parties, lighting up the sky with fireworks, and sharing a grilled meal with loved ones. As is the case for many holidays, however, budgets tend to fall to the wayside. Do you know just how much Americans will spend on the Fourth of July 2018?
It’s safe to say that our Independence Day is one of the country’s most popular events. With 87% of Americans will celebrating the holiday, that also means a lot of economic traction. This number increases a tiny bit depending on the age of celebrants. People aged 18-24 have an even higher rate, topping out at 93%.
Though there are many ways to commemorate the holiday, there are specific trends that people tend to follow. The top four Independence Day activities, from the most to least popular, are cooking out (62%), fireworks (43%), travelling (13%), and parades (12%). These common activities will then dictate how much Americans will spend on the Fourth of July 2018.
Because of the high popularity of holiday cookouts, this indicates that people will spend more in order to enjoy the holiday. That, of course, isn’t a big surprise. Good food is a staple of the standard Independence Day celebration. People will be cooking burgers, hot dogs, steaks—you name it. In fact, the pool of Americans who plunk down cash for Independence Day-based grilling is enormous! How much, though? They buy their holiday-based food at the tune of $6.9 billion per Fourth of July. Just to put things in perspective, it costs NASA $1.5 billion to launch a shuttle into space. With the amount we allocate for just the food for Independence Day, we could send 4.6 shuttles into the cosmos. Good thing that there will at least be leftovers to enjoy on 5th, don’t you think?
While cookouts don’t involve too much travelling, the other three popular Fourth of July options tend to rely on gas and transportation. Whether you’re heading into town to see a fireworks show, driving to see family, or heading to a parade, you will have to spend money on gas. Ultimately, this can limit choices, as fuel these days isn’t too cheap. Twenty-five percent of people acknowledge that their plans will depend on gas costs.
Budgets tend to be a deciding factor in holiday celebrations for most households. It’s perfectly understandable if you don’t have the ability to buy everything you want for the holiday—or if you’re trying to save. You can always find more affordable ways to make the most of Independence Day, such as cooking food already in your fridge or buying cheap alternatives, spending time at home with friends or family, and watching fireworks shows on TV. These ideas will save you money in the long term while also allowing you to make the most of the Fourth of July.
So, just how well does your budget stand up against these statistics? After learning just how much Americans will spend on the Fourth of July 2018, you can keep yourself from making any possible financial mistakes while still enjoying the holiday. Happy Independence Day!
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