MONEY & LIFE

‘Tis the Season for Tipping Extra

By: Anneken Tappe · December 15, 2023 · Reading Time: 2 minutes

Tipping Fatigue

Tipping culture has been under scrutiny as persistent inflation is wearing Americans down. If your purchases have already gotten this much more expensive, many cringe at having to tip on top, a trend known as “tipflation”.

But this does not seem to be dampening the giving spirit this holiday season. In fact, Americans say they will be as generous in tipping this holiday season as they were last year, and perhaps even more so, according to a recent Harris Poll.

As Generous as Ever

More than half of Americans are planning on giving larger tips during the holiday season than throughout the rest of 2023. Especially younger Americans are planning on bigger tips: 49% of Gen Zers will tip more year-over-year, compared to 36% of Millennials, 19% of Gen Xers, and 21% of Baby Boomers.

Tip-Induced Stress

But tipping can also be a source of anxiety for consumers, especially as norms change, making it harder to determine if you’re tipping too little or too much. And the holiday season tends to exacerbate that problem. No matter how much you decide to give, remember to tip within your means and budget.

Looking for more stories like this? Check out On the Money — SoFi’s one-stop-shop for news, trends, and tips!

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