It is the most wonderful time of the year – unless you are in debt from overspending last year.

According to data from NerdWallet's 2017 Consumer Holiday Shopping Report, which analyzed spending and behavior trends of more than 2,000 Americans, finds most plan to spend about the same as they did last year.

Twenty-four percent say they overspent last year and 27 percent say they had no budget.

On average, Americans plan to spend about $660.00 this year. Many shoppers say they are still paying off debt from last Christmas.

"This is not a great year to be taking out extra debt just to pay for holiday gifts," says WSB money expert Wes Moss. He adds that you will just be digging yourself into a deeper hole because interest rates are expected to go up next year.

An estimated 69 percent of Americans, about 164 million people, plan to shop during Thanksgiving weekend, according to the National Retail Federation.

What are people planning to buy? Clothing and accessories will be bought by 61 percent of consumers, the same as last year, while 59 percent will give gift cards, up from 56 percent last year.

Popular gift cards include those for restaurants, department stores, and Visa/Mastercard/American Express/Discover gift cards.

The number of people giving electronics this year is down slightly from last year.