It’s true. Our sagging economy affects everyone, even Santa, spotted this weekend shopping for bargains to fill his sleigh. Times are tough and many of us are having to cut back this year on Christmas giving.
According to a recent poll, consumers have tightened their belts this Christmas. “Approximately two-thirds of people around the country said they were spending less this holiday season,” said Lee M. Miringoff with Marist College.
The Marist poll found 41 percent of people making less than $50,000 planned to cut back a great deal. 24 percent of those with incomes of more than $50,000 said they’d spend less. Only 18 percent of the 1,003 adults surveyed said they wouldn’t change their spending habits. When it comes to being more frugal this year, 73 percent of women said they’d altered their spending habits, compared with 61 percent of men.
We’re all in the same boat this year. But tough times bring us closer together and help us remember what Christmas is really all about.