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?