69% of Americans would skip holiday gift-giving if they could, survey says

How would you feel if your family suggested not exchanging gifts this year?

A new poll found that 69% of Americans would happily skip the annual holiday gift exchange if their family members agreed to it.

The survey, conducted by Harris Poll for SunTrust Banks, Inc., also found that 60% of those who spend time buying or making gifts said they would spend that time with family and friends.

While 25% of those polled said they would prefer to use the money on activities with friends and family rather than on purchasing gifts, the survey revealed Americans are a little nervous about spending money this year.

Forty-three percent said they felt pressured to spend more on gifts than they can afford. Asked what they would do if they didn’t have to buy gifts, 37% said they would put that money toward paying down their debt, and 47 percent said they would save or invest it.