DAYTON — A recent survey reveals that while holiday tipping amounts remain stable, fewer Americans are planning to tip this year, with notable declines in tipping for child care providers and teachers.
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The survey conducted by Bankrate found a nearly 10 percent decrease in the number of people tipping child care providers, and a 6 percent drop in those tipping teachers. This trend reflects broader economic concerns, as fewer people are opening their wallets during the holiday season.
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“To me, this says a lot about the overall state of the economy. Basically, the rich get richer, the poor get poorer. We see that in our results here, we know a lot of people are stressed by high prices, high interest rates. They’re worried about the state of the economy. Fewer people are planning to tip this year,” Ted Rossman, Senior Industry Analyst at Bankrate, said.
Despite the decline in the number of people tipping, some tip amounts have stayed the same or even increased slightly.
Rossman notes that upper-income households are filling some gaps, referencing a Moody’s Analytics Survey that found the top 10 percent of earners are accounting for 50 percent of all spending.
Rossman advises people to be selective with their holiday tips, suggesting they consider who has gone above and beyond for them this year.
“Maybe you have a really great babysitter or dog walker or housekeeper, or someone who’s really gone above and beyond to make your life easier this year,” he said.
He also suggests alternative ways to show appreciation, such as giving a basket of drinks and snacks or baked goods, or pooling resources with others to purchase a gift card.
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