Is the economy affecting your holidays budget?
We’re just a few days away from Black Friday, the title given to the day after Thanksgiving that traditionally starts retailers on their way to year-end profitability, and we have to wonder if we might need to change the color scheme this year from black to red given the hemorrhaging going on in the economy.
Today’s topic – Is the economy affecting your holidays budget?
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I’ll get us started. Heck yes, it is. Which I know is counterintuitive, because if we just continue convincing ourselves that all is well, then eventually we’ll make it so that all actually is well. That said, I can’t help but think that it might make sense to pull back a little this year.
Everyone in my family is pulling back this year which is fine by me. I’m a big believer that there is way too much excess in the holidays each year anyway. I suggested that we only buy for the children in the family – but not sure that will stick. Even so, we are setting budgets for the first time ever on gifts.
Personal economy has always affected my holiday budget which many times has been non-existent. I’ve always enjoyed those Christmas seasons when similarly low-budgeted family members and friends put more thought or time than expense into any gift-giving anyway. Make something, bake something, help with something or just visit or send a letter or card with maybe a photo. Spending money on gifts that could better be spent on shelter expenses, food or bills makes no sense.
I always thought that an economy that depends so much on holiday season purchases (30 to 40 percent of the year’s total profit) was on thin ice to begin with. I wonder if that will ever change.