Monday, December 29, 2008

What I spent on Christmas and why it won't matter next year

I spent $600 on holiday gifts this year. And I won't care at all come New Year's morning, because I didn't put a dime of it on a credit card. Terrible holiday sales likely mean store closings, some bankruptcies and lost jobs.

Seems a lot of other people will be less stressed over what they spent during the holidays as well.
Retailers suffered badly over the Christmas holiday season and that's not great for the economy.

But there's a silver lining: lower holiday retail sales means consumers cut back on what they spent from years past. We don't know for sure, but it probably means they spent more with cash and less on credit than in the past, too. And if we're lucky -- and smart -- hopefully that's another sign of a long-term trend in American consumerism: people actually only buying what they can afford.

So, how much did you spend on gifts for loved ones, and how much of it will be around to worry you when the bills come in January?


Butterrfly said...

I certainly spent significantly less than my usual.. however I still charged my gifts to my American Express. What can I say, I am a glutton for points... However, to my credit (no pun intended) I have the electronic payment setup to pay the balance in full! :-D

Velvet Jones said...

I spend $58 on gifts. $8 on the boyfriend (Truck Turner DVD...he loved it!), $50 on his parents (GC to Red Robin, they eat there like it's their JOB). It was my first holiday with both, so that's why I spent so much. My parents and I stopped gift-giving several years ago. It was mainly my idea because I figured I'm an adult and employed, I can buy what I want. Plus they are getting older and I'd rather they spend the money on themselves.

By the way: I spent my holiday in the lovely Cleveland area!

Mary said...

I spent $82.00. This year I only bought gifts for the bare essentials. Sorry family and dear friends I will make it up to you on your birthday.
I was very strategic with my gift giving, I bought gifts for people who can significantly increase or improve the quality of my life:
1. Tipped the girl who washes my hair $20.00 (I usually do $40 but we are in a recession). She does a great job and I need to let her know she is appreciated.
2. I bought the lady who styles my hair a $30.00 shirt she liked (It retails for $69.00 but I got it on sale and used a coupon).
**My hair is very important to me I can't afford to upset my hairdressers.
3. I tipped my building super $20.00 (I usually do $40 but we are in a recession)... He always helps fix stuff around my apt.
**I don't want to piss him off either, if I ever scream help I gotta know he will come running.
4. I bought my friend’s mom a some roses (They were nice 2 dozen for $12 bucks can't beat that with a bat). I spent Christmas over there I could not go over empty handed
Yes I am divulging my cheapness but I am not going into anymore debt. My mantra is:
"Read my lips NO NEW DEBT, not this year not next year!"

Fabulous Financials said...

I spent a little over $500 (almost 1/2 my budget from last year). All charged on a cash back credit card, but always pay in full when the statement closes.

Converting A Spendthrift said...

We blew the bank I guess. Last year I spent $75.00 on gifts. This year I spent $1400. We went to Universal Studios the week of Christmas. The tickets were $560. So that was the bulk of our expenses. On actual presents I spent about $400.