The recent American recession which took hold for almost three years has affected the financial health of the country drastically. This looming crisis adversely influenced almost every aspect of US life possible from real estate market to the Christmas shopping habits of the Americans. For the last three years the local stores have claimed to witness a sheer fall in the consumer spending during Christmas. However, it is being predicted that there may be a change in the scenario this Christmas. According to Reuters, shoppers may spend more for their Christmas shopping this December 2010, for the first time ever since the recession struck the US economy.
The Reuters reported that in accordance with a retailing trade group’s survey, consumers may spend an average of $688.87 this Christmas season. This survey released by the National Retail Federation states that there may be an increase of 1 % from 2009 in the consumer spending. Thus, there may be a sales growth of 2.3%, this Christmas. However, the recession is still not over and several families are still struggling to overcome the financial distress caused by this recession. Thus, the following points will provide you with some tips to tactfully enjoy your shopping for Christmas even during recession.
Tips for surviving Christmas during recession
Here are some tips you need to follow while shopping for Christmas this year 2010.
- Budget – Plan a realistic budget and find out what you can afford. Create a list of all the items that you require for your Christmas and write down the dollar amount that you need to spend on them. However, you must also make sure to forgo certain things in case your list of items exceeds your budget. Such budgeting will also help you stay out of debt trouble in future.
- Frugal shopping – If you want to keep your wallet happy, go for frugal shopping this year. Shop at thrift stores or dollar stores and you may get just what you want at a much lesser price.
- Clip coupons – Newspapers and magazines are usually filled with money-saving coupons. Shop with those coupons and you may eventually save some dollars. You can also consider going for sales and discounts while shopping for your Christmas.
Apart from the tips mentioned above, you can also consider shopping online as this can save you a lot of money. You can try to earn some extra cash yourself by selling items that you do not need any longer. You can also consider having a swap party with friends where you can exchange items and have a set of brand new teams without paying anything. Thus, follow these tips and take pleasure in your Christmas shopping despite the recession.