A new survey released by Visa Inc. shows that 73% of consumers still haven't finished shopping for Christmas gifts. These last-minute shoppers will spend an average of $304 in the final days leading up to Christmas.

Based on 1,007 telephone interviews conducted nationally between December 14 – 16 by GfK Roper OmniTel, Visa's survey finds that 16% of consumers have yet to purchase a single gift and plan to do all of their shopping at the last-minute.

At this point in 2011, with one final Saturday left before Christmas, 77% of consumers had yet to finish their shopping, planning to spend $278, while the number of professional procrastinators who hadn't even begun shopping stood at 13%.

"With this many Americans still desperate to buy gifts, we are officially in the danger zone for 'panic shopping,'" said Jason Alderman , Visa's Senior Director of Global Financial Education. "When shoppers panic, they throw money at the problem and often overspend to get a gift – any gift – in time for Christmas."

Visa's survey found regional, income and gender disparities among those who still had some Christmas shopping to complete.

• 69% of Southerners still have gifts to buy and will spend $329
• 69% of Midwesterners still have gifts to buy and will spend $239
• 78% of Northeasterners still have gifts to buy and will spend $271
• 79% of Westerners still have gifts to buy and will spend $352
• 74% of women nationally still have gifts to buy and will spend $218
• 72% of men nationally still have gifts to buy and will spend $399
• 71% of people with household income under $20,000 still have gifts to buy and will spend $170
• 74% of people with household income between $20,000 and $49,999 still have gifts to buy and will spend $208
• 78% of people with household incomes over $50,000 still have gifts to buy and will spend $401

To ensure that panic shopping this week doesn't turn into a holiday hangover next month, Visa is providing some helpful budgeting tips.

1. Spend no more than 1.5 percent of annual income on holiday expenses. For a family earning $50,000 a year, that means spending $750 or less on all aspects of the holidays.
2. Have a 'micro budget' – a specific spending limit – for each person on your gift list.
3. Join together with family members to help those who may be less fortunate and make a group contribution to a charity, in lieu of gifts to each other.
4. Instead of buying a gift at a store, consider giving the gift of your time by providing an experience like agreeing to cook dinner on a weekend night, clean the house or do laundry.
5. Visa offers a free online holiday budgeting calculator at www.practicalmoneyskills.com/holiday and as an iPhone app under "Practical Money Skills calculators" in the iTunes store.