Expect a line at the cash machine.
Minnesota Business Magazine reported that more Minnesota consumers will pull out cash instead of credit cards this holiday season. The latest survey of metro area shoppers by the Country Financial Security Index shows that 67 percent of us plan to use cash, check, or debit card to pay for our holiday purchases.
The survey also found that 52 percent of Twin Cities residents say they are unwilling to take on debt for their holiday shopping. Another 29 percent say they are willing to assume debt of $500 or less.
Minnesotans will also spend more this season. Earlier this month, FOX 9 reported that the 10th annual University of St. Thomas Holiday Spending Sentiment Survey found that planned spending in the metro is back near pre-recession levels, at $703 per household. That's 3.4 percent more than last year.
Where will we do our holiday shopping? The survey predicted that 53.1 percent of spending will happen at 9 regional malls and downtown areas. The survey found the top three malls are the Mall of America, which was first, followed by Rosedale and Southdale.