LiveNOW from FOX's Carel Lajara is joined by Ginny Fahs of Consumer Reports to discuss how consumers can protect their data and avoid scams during the holiday shopping season.

Shopping during the holiday season can be exciting, but it also bring along financial challenges.

To understand how people approach holiday shopping, WalletHub conducted a nationwide survey investigating trends in budgeting, shopping habits and financial strategies.

The company surveyed 200 participants and found that 46% of Americans were still paying off debt from last holiday season.

Despite this, WalletHub also found that more than 9 in 10 Americans had a holiday budget, and 42% of people use strict budgeting as a strategy for avoiding holiday debt. Meanwhile, 22% said they spread out their purchases over several months, and 21% said they use only cash or debit cards.

While holiday shopping is a common practice among many Americans, 64% of people surveyed said they believe too many gifts are given during holiday season.

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WalletHub also found that 47% of people surveyed start shopping for the holidays in October or even earlier. Respondents cited lower prices (38%) and more time to enjoy the holidays (31%) as two big motivators to start holiday shopping earlier.