Nov 23, 2009 2:43pm
You Buying Less This Holiday?
EmailAmerica has gone from a nation of credit card charging spenders to savers. And the Grinch appears to be poised to steel this Christmas too. The savings rate has jumped way up in the past year. Americans are nervous about jobs despite the signs of any economic recovery. The Associated Press and Gfk have taken the pulse of Americans and find that 93% say they will spend less this year over last. What consumers spend is very important…consumer spending makes up some 70% of the economy. And no season is more important to retail than the end of the year run. So, what’s your plan?
RSS
Twitter
Facebook
I’m spending more, but that is mostly a function of the ages of my nieces and daughter. Employment wise, my picture has actually improved a bit from last year (my employer is growing again). I see no reason to increase my savings cushion from the 1-year-expenses level it was at last year.
I would expect the next few years to be tighter on a national basis, but the nice thing about emergency funds is you only have to build it up once and then you can go back to spending and enjoying life to the fullest.
Posted by: jhw539 | November 23, 2009, 3:04 pm 3:04 pm
Yes, actually some of our friends and family requested that we all scale back this year, which was a practical approach to the economy.
Posted by: Rick McDaniel | November 23, 2009, 4:53 pm 4:53 pm
Yes — this year we all agreed we would only be giving gifts to the nieces & nephews who are 17 and under. We adults have everything we need, so we will simply be exchanging warm hugs and good cheer!
Posted by: CMHuante | November 23, 2009, 8:35 pm 8:35 pm
Buying less? You betcha!
Posted by: LongT | November 23, 2009, 9:44 pm 9:44 pm
About a decade ago, my family members realized we were spending to much every year on Christmas and birthday gifts. We decided on a $25 max – that’s now a $35 max. That’s led to some interesting shopping. Sometimes someone will find discounted items and get a $100 gift for $25 with coupons, etc.
Posted by: The_Mick | November 24, 2009, 4:13 am 4:13 am
This year ,,, no spend $ will make some gifts saving all the Christmas money …. hope all the bankers go broke
Posted by: eagle one | November 24, 2009, 9:09 pm 9:09 pm