July 4 spending could fall 12 percent

A mid-week calendar date and a weak economy appear to be a bad combination for Independence Day celebrations, a new survey from Visa Inc. suggests.

A survey released by Visa today says 21 percent of Americans don't even plan to celebrate Independence Day, with the Fourth of July falling on a Wednesday this year.

The survey found American households planning to spend about 12 percent less on the holiday - an average of $191 compared to $216 in 2011.

Spending is expected to hold up best in the Midwest. The survey found Midwesterners plan to spend an average of $211, while Northeasterners wil spend the least - an average of $171.

“With most Americans continuing to watch every dollar closely, many have realized that sparklers and flag emblazoned T-shirts are not essential items,” said Jason Alderman, Visa's senior director of global financial education, in prepared remarks.

“Being patriotic does not equate with overspending on the Fourth of July," Alderman said. "Make a budget for the holiday and stick to it.”