Home > Uncategorized > Stress of debt shrinks list of holiday gifts

Stress of debt shrinks list of holiday gifts

Stress of debt shrinks list of holiday gifts

As we all know everybody is feeling stressed about the holiday season that is approaching rather quickly. The unemployment rate is higher this year than last year but our economy was worse off in the recession last year than this, it is hard to predict how retail sales will be this year. Right at 93% of people say they will spend less or about the same as last year on holiday gifts this year. Most people, 80% say they will be using mostly cash to pay for thier holiday shopping, which usually means buying less and higher stress levels. A lot of people are feeling the stress of holiday expenses and often look towards using credit which are harder to apply for and a lot of people cannot pay off the holiday season credit card charges because they can’t pay it in full when the bill arrives. I have learned from the past about “charging christmas” and am extremely determined to only spend cash this year on gifts. Something that helps me and many others is start shopping early, even though I have always procrastinated about buying gifts till the week of christmas I have already started this year. I now call it “budgeting christmas” because not only am I getting ahead on my christmas shopping early but it helps by only taking a little bit of money out of every paycheck instead of taking it all out of one right before christmas and most likely not having enough cash and would turn to credit. Christmas is not all about the gifts and if it is to some people you should’nt be stressed out about how your going to afford the gifts.

Categories: Uncategorized
  1. dpinz
    December 2, 2009 at 5:24 pm

    I agree with this article, the economic is in bad shape in every company is trying to sale their products before they get stock with the inventory. Now is the time to take advantage in buy early, the competition between companies would make this holiday shopping more simple. The early we shop the more options we have to find the lowest prices.

  2. jthomason16
    December 2, 2009 at 8:49 pm

    I agree with this article. I know that the economy has put more stress on my parents for the holiday season. I was plannning on going to visit my girlfriend in Michigan over the Christmas break but now i will not be able to becuase with the price of plane tickets and the need for money for Christmas presents i will not be able to afford to go. I do think that it is very important not to use credit over Christmas because you can easily get caught up and spend alot more than you intended to and not be able to pay off your debt.

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