More people dip into savings to splurge on the holiday

ST. LOUIS – Holiday spending is expected to be up this year, but the way some people are paying for gifts leaves some concerned.

A recent survey found that 37 percent of parents with children ages eight to 14 are willing to dip into their savings accounts to buy presents.

Financial advisors point out that overspending can put stress on relationships, which lasts long after the gifts are forgotten.

Reports show 62-percent of parents say that they have already overspent during this holiday season.

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