Americans spend big money on holidayPosted: Updated:
When it comes to Fourth of July spending, Americans show their patriotism with their wallets.
According to the National Retail Federation, 65 percent of people own an American flag. Over 53 percent have the stars and stripes on things like T-shirts, bathing suits and shoes.
Retailers expect 28 percent to buy more patriotic items this year, which is why big box stores like Walmart and Target sell anything from plates to pillows featuring red, white and blue.
Of those celebrating the holiday, 162 million people will take part in a cookout or picnic, spending an average of about $73 per person -- and that's just for the food.
Many people, 44 percent, will watch fireworks, while 14 percent will see a parade.
No matter what you and your family do, know that about 219 million others are also celebrating independence.