Alpha Consumer

Scaling Down for the Holidays

By Kimberly Palmer

Posted: October 15, 2008

This morning's Commerce Department announcement that September retail sales were down 1.2 percent disappointed economists, who had expected a milder decline. It was bad news for retailers, too, who count on the upcoming holiday sales to boost their revenues.

The news got me thinking: For those of you already mulling over your present lists, are you scaling back? I'm wondering if the new "it" toy this year won't be a toy at all but something more frugal, and perhaps more thoughtful. A father might give his young son a day of eating whatever he wants instead of the latest Elmo incarnation. Or a daughter might remember the name of that author her dad loves and get his latest book instead of a new cashmere sweater.

What do you think: Will you be putting less money—but perhaps more thought—into your presents this year?
Yes—it may not be from a high-end store, but it's the thought that counts, right?
I'll make small substitutions. Perhaps my wife won't know the difference between Tiffany and Zales.
No—nothing says "I love my children more than you love yours" like buying them the 2008 equivalent of Tickle Me Elmo.
The holidays are not about gifts--something this financial crisis will make us realize, once and for all.


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Yep, scaling back

I'm definitely scaling back on my kids' presents...I usually spend about $200 each, will be more like $75 this year, maybe less depending on how much money I have...

Single mom of CO @ Oct 16, 2008 11:12:23 AM

Ramen for Christmas!

Well not really, but this year looks like the gifts are going to be a random assortment of odds and ends. I fell for those Bath & Body Works sales too many times this year, so the stuff I don't need will probably be redistributed to my sisters. Maybe I'll clean my mother's house one day as a Christmas gift.

Oh how I wish I was like my Nana, she starts Christmas shopping the day after Christmas and is usually done before Halloween.

Veronica of NY @ Oct 15, 2008 18:56:21 PM

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Alpha Consumer

Alpha Consumer

Kimberly Palmer, senior editor for U.S. News & World Report, writes about how to save money, avoid scams, manage debt, and be a savvy shopper. Send your personal finance questions to her for expert money advice.


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