The National Retail Federation expects the average American to spend about $640 on gifts this holiday season. While many people are shelling out hundreds, the majority of Americans say they'd be fine not giving or getting any gifts at all.
A new online survey by Sun Trust Bank shows seven out of ten Americans would skip the gift exchange if family and friends were on board. Six out of ten people said they'd spend more time with family and friends if they didn't have to worry about exchanging gifts.
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